L07 - VAT Rate Code (Accounts Report Generator variable)

Syntax

L07

Description

The V.A.T. rate code for this item.

Parameters

None.

Returns

A numeric value whose typical size is 1 digit. There are up to 9 V.A.T. rates available to Platinum, the first four of these are usually configured as below.

1

20% (Standard Rate)

2

0% (Zero Rated - Book, Childrens Shoes, Items sold overseas etc.)

3

0% (Exempt - Essential safety equipment)

4

5% (Reduced Rate - Fuel etc.)

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Keywords AND Misspellings

vat, tax