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REDUCED VAT RATE ON RECEIPTS FOR EXPENSES

Forum|Forum|6 years ago
August 10, 2020
3 replies
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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

QuickBooks Online

Best answer by Ashleigh1

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.

A

Ashleigh1Answer

Level 14

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.