How do I edit VAT rates?
From Catalyst
Summary
This article outlines how alter the rates of V.A.T. in Platinum.
Details
Go to "Systems" -> "Reports & Parameters" -> "Maintenance Options" -> "System Administrator" -> "V.A.T. Parameters".
 | PLEASE NOTE : If you do not have a "Systems" option go directly to the "Reports & Parameters" option or refer to a person with higher access rights |
There are 4 rates of V.A.T. that can be used. They only change with government legislation, but if an announcement is made then the following can be amended:
- "V.A.T. Returns Frequency : (Quarterly/Monthly/Bi-monthly)"
- "V.A.T. Rates:"
- Here you can update the V.A.T. rate percentages and descriptions.
 | Example : To alter the tax rate of V.A.T. rate 1 move to the "V.A.T. Rates :" prompt and change the rate from 17.50% to 15%. This will lower the rate of V.A.T. by 2.5% |
There are fields for the V.A.T. 100 start date and Last Period completed these dates are updated by the system.
Other Considerations
If you have a Custom Report Generator report (i.e. one that had been written for your needs) that calculates the V.A.T. manually, this report WILL need to be amended to reflect the new rate. The above WILL not update the report. Please call our software support for further help.
