How do I set up a 5% vat rate?

Hello Louise30, 

Welcome to the Community page, 

The way in which to set up a 5% vat rate is 

click on taxes tab>vat>edit vat>edit rates>then you can toggle on and off the rates in the list> to add a new rate click on add tax rate top right>fill the information out and save 

Then when you create an invoice or expense you will then be able to select that tax rate. 

If you have any queries please reach back out to us again.