debbiewakeford
Level 2

REDUCED VAT RATE ON RECEIPTS FOR EXPENSES

How do I recognise a reduced VAT rate of 5% on business expense receipts?  Current options are No VAT/VAT exempt/20% rate - many thanks

Solved
Ashleigh1
QuickBooks Team

Transactions

Hello Debbiewakeford, 

 

Welcome to the Community page, 

 

If you click in the taxes tab in the main navigation bar>edit vat>edit rates> there will be a little cog wheel>click in inactive>there should be a 5% reduce to toggle on if not then you can click on add tax rates>  fill in the information and save. Then you should see the option when you create an expense. 

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debbiewakeford
Level 2

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Thank you so much!

EmmaM
QuickBooks Team

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You're welcome Debbie:smiling_face_with_smiling_eyes::smiling_face_with_smiling_eyes: Any other questions just come back here and ask them in the Community.