To Edit a VAT Rate
1. Open the Settings menu from the Sage Line 50 menu bar and choose Tax Codes.
The Tax Codes list box appears, listing all the VAT rates currently available for you. The list also shows whether each rate is æIn UseÆ (i.e. included on your Sage Line 50 VAT return), and if the rate refers to transactions with EC countries.
2. Select the code that you want to change and then click Edit.
The Edit Tax Code window appears.
3. Enter the rate to be applied (as a percentage) in the Rate text box provided. You cannot change this rate if it is an EC Code, as this rate does not apply.
4. If you want to include this tax code in your Sage Line 50 VAT return, select the æInclude in VAT ReturnÆ check box. Clear if you do not want to include transactions with this tax code in your VAT return calculations.
5. If the rate relates to transactions with EC countries, enter the EC details in the boxes provided.
6. If you want to change the tax code description, type the text you require into the Description box.
7. To save the details of this tax code, click OK. To exit without saving, click Cancel.
8. To exit from the Tax Codes window, click Close.
You can enter the following EX VAT Rate information:
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