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lubru
April 12, 2021
Solved

NO VAT tax code

  • April 12, 2021
  • 1 reply
  • 0 views

Hi, I don't have 'NO VAT' tax code in my QBO. 

 

It is not inactive and I have tried to create such code, but QBO doesn't allow me to do so. 

 

Can you please advise? Thank you! Lucia 

Best answer by Ashleigh1

second screenshot...thank you! 


Hello Lubru,  thanks for coming back to us and with the screenshots. so it may have been deactivated. so you will need to load up an invoice, click on the VAT drop-down and click manage rates to see if the NO VAT is turned on there.  It will not show in the edit rates screen from the VAT center. 

1 reply

katherinejoyceO
katherinejoyceO
April 12, 2021

Hello there, @lubru. 

 

Thanks for coming to the Community for your VAT codes concerns. You may select the Exempt code so it will reflect as No VAT on sales form or purchase from. 

 

You can check out this article for more insights into the common VAT codes in QuickBooks Online. 

 

For future reference, you'll want to edit the VAT settings and codes or customize tax. Read through this article to learn some more: Set up and edit VAT settings, VAT codes, and VAT rates.

 

Feel free to come back and post some more of your concerns here in the Community. I'd be delighted to help.

L
lubruAuthor
April 30, 2021

Hi Katharine, 

I am afraid VAT exempt would not be the correct code for grants expenditure.

In the UK, we cannot claim for VAT on grants expenditure but we still have to report the Net value of those bills on our VAT return. 

VAT exempt code is OK to be used for bills which are exempt from VAT. 

That is not the same of bills with VAT which I cannot claim from my return. 

Any idea on the parameters I have to use for setting up such a VAT code in QBO? 

Thank you! Lucia 

 

E
EmmaM
April 30, 2021

Hello Lubru, Did you migrate from the QuickBooks desktop product? Could you provide a screenshot from the taxes>vat>edit vat>edit rates showing the active and inactive codes so we can look into this? Thanks

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