15% to 17.5% Vat Rate |
December 2009 |
We have provided a script to revert the default vat rate back from 15% to 17.5%. |
What does it contain?
Due to the VAT rate reverting back to 17.5% from 15% on 1st January 2010, Timemaster will need to revert the default tax back from 15% to 17.5%.
We have supplied a script which reverts the default vat code back to the old rate, effectively reversing the previous script we issued a year ago.
The script carries out the following functions:
1. Get the old vat code previously used for 17.5% (eg 'T1')
2. Get the current vat code used for 15% (eg. 'T2')
3. Set all projects, clients, tasks, contracts and expense code vat codes to T1 where they are currently T2.
The new vat code will be applied to all new transactions (expenses, contractor payments, invoices etc)
If you need to process an older payment using the old 15% rate, then you can manually change the tax code back to the temporary (T2 or whichever code you used) code.
How do I get it?
Login to the support pages and follow the link to the 17.5% VAT rate code.