[Question] Guidance on Tax codes to use on pastel express

[Tracyv33]

Hi,

Does anyone have some guidance on which tax codes to use in Pastel Partner for the different VAT types? ie. When importing goods, which code to use for Customs VAT (100%), which code to use for zero rated VAT purchases etc...

Please help!

Regards

[Drifter]

Hi
Ideally you need a tax code for each line item on your Vat 201 return. That makes completing the return simple.
Remember that customs Vat never equals 14% exactly. That is why Pastel treats it as a 100% adjustment.

What Vat report in Pastel do you plan to use?

[Mike C]

Hi Tracyv33 these are the settings that we use:

00 - To be set at time of Invoice
01 - Normal VAT
02 - Zero Rated (not including capital goods)
03 - Tax Exempt
04 - Bad Debts
05 - Capital Goods
06 - VAT Adjustment
07 - Accommodation exceeding 28 days
08 - Accommodation not exceeding 28 days.