UK VAT rate for EU purchase

Discussion in 'Finance, Property, Law' started by Kromeriz, Dec 27, 2012.

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  1. Google is not my friend because despite all the pages I can not find the specific piece of information which I need.

    Say for example I bought petrol in Germany, how would I record that purchase on SAGE? As T0 or T9? Or something completely different?

    Cheers for any help

  2. 178 views, and not one of you toss pots has tried to help. Tossers.
    • Like Like x 1
  3. Twelvety

    Sent from my HTC Wildfire S A510e using ARRSE mobile app
  4. Kromeriz, I can only tell you how I apply TVA codes, whether you are able to do the same I do not know. My codes in Sage are as follows:

    T0 Zero rated transactions Sales outside of EU, Food, Sewage disposal/water, Books pamphlets and brochures, Newspapers, Maps etc..
    T1 Standard Rate 19.6% all EU sales
    T2 Exempt transactions - 0% Post office postal costs, Insurance, Bank charges, Professional memberships, finance charges
    T5 Lower rate e.g. 7% Some foodstuffs, Water supplies, Pay TV and cable TV, Hotel accommodation, Some gas and electricity, Repairing private dwellings completed at least 2 years ago, Window cleaning in private households, Domestic care services, Restaurants
    T6 Super Lower rate 5.5% Some pharmaceutical products, Some newspapers, Some periodicals,TV licence
    T9 Transactions NOT involving any VAT - Bank Transfers, Salaries, Social Taxes, Insurance claims, Loans, Dividends, Stock Exchange Dealings (though this may change), IVTs, Taxe Foncière/Habitation

    If that information is of use - you are welcome
  5. I join the ranks of tossers by increasing the number of views and adding nothing of value. Cos I don't even understand the question. Sorry.
  6. Thanks for replying

    I need help re specific T24 code - I think...
    Or on the other hand, when I buy petrol or food etc, what SAGE VaT code do I use?
  7. Apologises, just realized you are UK based:

    These are the codes a friend uses for her business in Plymouth. These may answer all your problems.

    T0 0% Zero Rated – e.g. food, non EC exports
    T1 20% Standard rate
    T2 0% Exempt – e.g. rent, insurance
    T3 17.5% Old standard rate
    T4 0% Sales to VAT registered customers in EC
    T5 5% Lower rate – domestic fuel
    T7 0% EC purchase of Goods (would be zero rated in UK)
    T8 0% EC purchase of Goods (would be standard rated in UK)
    T9 0% Outside the scope of VAT – e.g. drawings, wages
    T20 0% Reverse Charges – e.g. mobile phones, computer chips
    T22 0% Sales of Services to EC Customers
    T23 0% EC purchase of Services (would be zero rated in UK)
    T24 0% EC purchase of Services (would be standard rated in UK)
  8. Hi EMSAV
    Have tiny UK company.

    Chocs, flowers or wine whenever we will meet? Thanks very much - Now have to go and amend VAT rates for 2012... joy of joys.

    Thanks so much for your help

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