VAT rates

There are six pre-set VAT rates to choose from. Simply choose the appropriate VAT rate for your transaction.

We'll manage the creation and maintenance of VAT rates for you whenever there's changes or new rates needed.

Available VAT rates

You can't edit or set up your own VAT rates because it's maintained automatically.

VAT rates and the VAT return

The table below indicates the boxes on the VAT Return impacted by the various rates.

If you deal with overseas customers or suppliers, the following also applies:

VAT for standard-rated goods/services from a VAT registered EU supplier or non-EU supplier goes in boxes T1 and T2
The net value of the sale of goods to a VAT-registered EU customer appears in box E1
The net value of the purchase of goods from VAT-registered EU suppliers appears in box E2
The net value of services supplied to a VAT-registered EU customer appears in box ES1
The net value of services supplied to a VAT-registered EU supplier appears in box ES2

Change the VAT rate on a ledger account

Each ledger account holds a default VAT rate to save you from having to select the correct rate each time you use it. It's simple to change the default.

NOTE: Changing the default rate won't change existing transactions. They'll remain with the rates set at the time of their creation.

Select Settings, then Business Settings, then Chart of Accounts.
Use the search to find the ledger account to change.
Select the required ledger account.
Choose the VAT rate to use from the VAT Rate drop-down.

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