Vat rate change and sage update

The rate of vat is changing back to 17.5% from 1st January 2010.

Here is the process to folow to change the vat rate in Sage.

From the settings list (Sage 50 Accounts v16)

• Configuration
• Tax codes
• Highlight the T1 code (should currently say 15%)
• Select edit
• Change rate to 17.5%
• Select OK
• Select apply
• Select close

NB
Best to go back into configuration and tax codes and make sure T1 now reads 17.5%.