What are all the different VAT Codes for in my Sage program?
Here is a brief description of Sage recommended tax code usage. • T0 – UK zero-rated items, and exports outside the EC. • T1 – UK standard-rated items (currently 15.0 %). • T2 – UK exempt items. • T4 – EC sales: zero-rated sales to VAT registered customers in other EC countries. • T5 – UK lower VAT rate. • T7 – EC purchases: zero-rated goods from other EC countries. • T8 – EC purchases: standard-rated goods from other EC countries. • T9 – Non-VATable transactions. For users in the Republic of Ireland: – • T0 – ROI zero-rated sales and goods for resale. • T1 – ROI standard rate sales and goods for resale. • T2 – ROI sales and goods for resale. • T3 – ROI reduced rate sales and goods for resale. • T4 – EC sales: zero-rated sales to other EC countries. • T7 – EC purchases: zero-rated purchases from other EC countries. • T8 – EC purchases: standard-rated purchases from other EC countries. • T9 – Non-VATable transactions. • T10 – ROI zero-rated goods for non-resale. • T11 – ROI standard-rat
