Common VAT Codes

The below table gives examples of some common VAT rates and the corresponding Union VAT code for sales/purchases of this type.

Income Codes

Name%Applies to
S1 - Sales Standard Rated20%Most goods and services - including sales of merchandise, event tickets, membership subscriptions etc.
SE - Sales VAT ExemptN/AParticipation in exempt sporting activity as defined by HMRC in VAT notice 701/45.
(please use with core sales account code Goods & Services (450)).
S0 - Sales Zero Rated0%Basic food items, books and other printed material.
SN - Sales No VATN/ADonations and sales to overseas customers (where goods/services are enjoyed overseas).
S2 - Sales C&S Sports5%Reduced rate membership subscriptions for exempt sports clubs
ST - Sales Trips/Tours (TOMS)N/AAny sales of bought-in travel or accommodation, or packages including either. (see article VAT on Trips and Tours)

 

Expenditure Codes

Name%Applies to
P1 - Purchases Standard Rated20%Most goods and services bought in.
PE - Purchases VAT ExemptN/APurchases which relate directly to sales of exempt sporting activity. (e.g. court/pitch hire, instructors etc.)
P0 - Purchases Zero Rated0%Basic food items, books and other printed material.
PN - Purchases No VATN/APurchases from suppliers which are not VAT registered or donations to charity.
PT - Purchases Trips/Tours (TOMS)N/APurchaes of travel or accommodation, or any purchases which relate directly to a trip/tour (see article VAT on Trips and Tours).
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