Sage T codes and the VAT rate change

[DuaneJackson]

My understanding is that T1 is "standard rate" for VAT in Sage.

So when the standard rate changed from 17.5% to 15%, in theory standard rate sales should still get classed as T1 (they're still standard rate, it's just what that rate actually is that has changed)

I'm guessing in practice it didn't work like this though?

Was there a consensus (or guidance) on what T code the new new 15% sales should be posted to or did everyone just pick a code they liked the look of?

[Zeno]

Sage's own advice was to change T1 to 15%. I take it they assume everyone enters their all transactions on the day.

Everyone else formed their own conclusions.

[DuaneJackson]

Thanks. For once I agree with Sage. That's the technically correct answer. Whether their software can deal with it in practice is another matter.

Do you have a link to that advice?

[Jaydee]

I thought that changing the rate of T1 is very likely to cause problems.

My advice to clients has been to set up another T code - but this is not only a preference for me in Sage, it is my preference for all packages that I have come across.

[Jenni384]

In QB I set up a new code from the off.

In Sage, I have changed T1 to 15% - but have used another code for 17.5% on the ffchance I need it (which now isn't a lot).

Some people were worried whether by changing T1 to a new rate it would affect transactions already posted - it doesn't.

[DuaneJackson]

So across the country now - it's all like bad custard: no conistency.
Different people will be using different T codes to represent 15%? some will be using T1 still?

[Jenni384]

I expect so - each bookkeeper's preference

[DuaneJackson]

Thanks all, much appreciated.

[billyboy120]

Personally just changed T1 to 15%!

[derren]

T1 to 15%
And set up T11 as 17.5% and don't forget to tick box on linking this to VAT return.
I think this is right and it seems to work out.