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What do the VAT code letters mean?

I've read the Common VAT codes but recently the codes offered in the QBO drop down list seem to differ. For example is Code E (0%) the same as Exempt? Is Code N (0%) the same as No VAT? Sometimes NO VAT is not offered as a choice.

Where can I find a glossary of VAT Code meanings that actually coincide with the VAT codes offered by QBO?

I must be missing something as up until recently, VAT coding seemed a lot more straightforward.

Thanks

11 REPLIES 11
QuickBooks Team

Hi cndhome. Thank you for contacting Community. The...

Hi cndhome.


Thank you for contacting Community.


The VAT codes listed on QuickBooks are set as default based on HMRC's tax code system. A short description of the tax codes can be found on the QuickBooks Taxes page. If you click Taxes on the left of the screen and then click the drop down arrow next to Edit VAT in the top right corner, you will have the option to Edit Rates. Here you will find a list of descriptions for the current rates active on your QuickBooks Online account.


If you have any further queries regarding specific VAT codes, I would recommend speaking directly with HMRC's VAT department, their contact number is 0300 200 3700.


Let me know if you have any queries. Or, if you'd like to go through this over the phone, you can call our dedicated team who will be happy to assist you. Our contact details can be found here along with our opening hours.



Not applicable

Hello, can you please just answer the question? This user...

Hello, can you please just answer the question? This user asked what the codes stand for and everyone else reading your answer will be equally frustrated that you didn't just simply answer the question.
Highlighted
Super Contributor **

@Graceman answered your question 11 months ago - read his...

@Graceman answered your question 11 months ago - read his response.
Not applicable

Totally agree with first comment - "This user asked what...

Totally agree with first comment - "This user asked what the codes stand for and everyone else reading your answer will be equally frustrated that you didn't just simply answer the question."
Not applicable

BTW the ACTUAL answer is hidden in the collapsed menu sys...

BTW the ACTUAL answer is hidden in the collapsed menu system - @Graceman absolutely cant immediately see this on this page - its not obvious.  Thanks Graceman.
Frequent Contributor **

Vat coding is required by HMRC not only to account for va...

Vat coding is required by HMRC not only to account for vat opwd/refunded but to gather information.

S = standard rate vAT

R = Reduced rate (Gas & Electricity)

E = Exempt

N = Not registered.

Not Vat records no information to the tax return and for Uk is rarely used.

Now it gets more interesting

Ecs = Ec services

Ecg = Ec goods

Ecz ec zero rated

Anything with Ec is to do with Ec trade and there are various scenarios as to which apply

Established Member

Re: Vat coding is required by HMRC not only to account for va...

Hi, I have just bought the quickbooks software and could someone tell me what SNR23% is? I know the S is standard rate vate but do not know what SNR is.

I'd appreciate the help.

Thanks!

QuickBooks Team

Re: Vat coding is required by HMRC not only to account for va...

Hello Munster12

 

Did you purchase QuicBooks Online,QuickBooks Desktop or QuickBooks Self Employed?Can we just confirm is it the UK QuickBooks you purchased?

 

Thanks

 

Emma

Established Member

Re: Vat coding is required by HMRC not only to account for va...

Hi Emma,

We purchased Quickbooks Online Essential. We are based in Ireland.

QuickBooks Team

Re: Vat coding is required by HMRC not only to account for va...

Hello Munster12

 

In the Irish QuickBooks Online it requires the user to set up the VAT codes they are using so that code has been named SNR23% by whoever set it up (unless the data was migrated in from another software) with 23% being the Standard in Ireland it is likely that this is the code that was being set up.

 

If you go to taxes on the left hand side>go to edit in the top right and select the drop down>edit settings>there should be code there named SNR23%> if you hit on edit it will give you more information on it and you can edit it in that section

 

If you have migrated the data let us know

 

Thanks

 

Emma

Established Member

Re: Vat coding is required by HMRC not only to account for va...

Great. Thanks Emma