Domestic Reverse Charge

The way in which VAT is charged on construction services changes from 1 March 2021 - Read more >

To assist with this new legislation, Sage 50cloud Accounts v26 and above has new tax codes:

• T21 to be used where CIS Reverse Charge Standard Rate applies.
• T26 to be used where CIS Reverse Charge Reduced Rate applies.

These tax codes can be used by both the subcontractor and the main contractor and ensures that the VAT Return is updated correctly - Read more >

Change supplier or customer default tax code

If you have customers or suppliers that you know will always need to have either of these new tax codes for batch invoices or credits, you can change their Default Tax Code:

Open the Customer or Supplier record, click the Defaults tab, change the Default Tax Code click Save then click Close.

Use batch changes for default tax codes to multiple suppliers or customers

If you have more than one customer or supplier that you want to have the same default tax code you can use batch changes to amend them at the same time rather than one by one - Read more >