VAT Coding - Sales & Income
Please check VAT Guidelines web page periodically for further information or any important changes
There are five main VAT codes that relate to Sales and income:
O = Out-with the Scope of VAT
Z = Zero Rated supplies
E = Exempt supplies
F = Reduced Rate supplies
S = Standard Rated supplies
It is essential that the correct VAT code is used each time an invoice is raised or cash is banked. In order that the correct VAT code is used - please refer to the following VAT Guidance Flow Chart (PDF, 64 KB)
The rule of thumb is that sales invoices and income banked must be standard rated (Code = S) unless there is justification for not doing so. It must be clear on the sales invoice / income posting slip why no VAT is being charged. Any queries on VAT coding can be addressed to vatenquiries@st-andrews.ac.uk or phone Janette McKinnon on X2582
VAT Coding - Purchasing
(Section under construction)