What tax code should I use for the ICO fee?

The amount you pay to ICO for your data protection fee depends on the size of your business. They also take into consideration your turnover and business structure. This can be any amount from £40 to £2,900.

Is the fee subject to VAT?

The ICO website states:

“No. Statutory fees are outside the scope of VAT, so no VAT is charged on it.”

What tax code should I use when entering the fee on Sage?

Sage 50 Accounts 

For transactions which are outside the scope of VAT you should use T9. This is assuming that you are using the standard tax codes in both programmes.

Transactions which are outside the scope of VAT do not need to be reported on your VAT return to HMRC.

Sage Business Cloud Accounting 

For transactions which are outside the scope of VAT you should use ‘No VAT’.

For further assistance on tax codes you can download our free guide here.

16/11/2021

“Any advice relating to accounts or tax should be sought from your tax accountant. Sage Accounts Solutions Limited will not be held responsible for any loss or damage caused as a result of the information contained herein.”

Share this...

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.