VAT
🟥 Plan changes to the VAT rate applied in the system
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In the workspace settings under VAT, you can define and manage the value added tax (VAT) for your workspace. This ensures that the correct tax rates are taken into account in invoices and quotes.
Validity periods
Administration/Workspace settings/VAT
VAT rates change from time to time. Leadtime therefore offers the option of defining different validity periods for VAT.
In the workspace settings under VAT you will find a clear table with all the VAT periods stored in the system.
Example of a VAT change
Let's take the following example: The current VAT rate is 19% and is to be reduced to 17% on 01.06.2025:
- Enter 01.06.2025 as the start date.
- Enter the new VAT rate of 17%.
From this date, the new rate of 17% will automatically be applied to all new invoices and offers.
Create VAT rate
To create a new VAT rate, follow these steps:
- Navigate to Settings > Workspace > VAT.
- Click on Schedule VAT change.
- Enter the date from which the new VAT rate should apply.
- Enter the new percentage rate.
- Click Create to save the change.
The new VAT rate is automatically applied to all new invoices and quotes from the specified date. Old invoices and quotes will retain the previous VAT rate.