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r4_rick

Original Poster:

238 posts

98 months

[news] 
Saturday 13th October 2012 quote quote all
Anyone got an easy way to remember which way around to use these for non vatable stuff, i always forget and more recently just bung everthing without VAT on T9

Eric Mc

75,837 posts

148 months

[news] 
Saturday 13th October 2012 quote quote all
T0 is "Zero Rated"
T2 is "Exempt"
T9 is "Outside the Scope".

All mean "Non-VAT" but there are distinct differences as to what they actually mean in VAT legislation.

T0 and T2 transactions will appear in the VAT return.

T9 items will not appear.

So, dumping everything into T9 is not exactly the right thing to be doing.

r4_rick

Original Poster:

238 posts

98 months

[news] 
Saturday 13th October 2012 quote quote all
Thanks Eric,
So if a supplier has vat rated goods but is under the vat threshold T0 or T9 ?


r4_rick

Original Poster:

238 posts

98 months

[news] 
Saturday 13th October 2012 quote quote all
reading your post again it would be T9 ?

Eric Mc

75,837 posts

148 months

[news] 
Saturday 13th October 2012 quote quote all
Yes
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r4_rick

Original Poster:

238 posts

98 months

[news] 
Sunday 14th October 2012 quote quote all
Thanks Eric, this is going on my notice board !
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