Changing VAT Settings
This guide explains how to change your VAT number and VAT rate settings in TrustistTransfer.
VAT settings affect the VAT options available when you request payments and create payment presets.
It is your responsibility to make sure the correct VAT number and VAT rate are used.
Before You Start
Before changing your VAT settings, make sure you know:
- Your VAT number
- The VAT rates you want to use
- Which VAT rate should be used as the default
- Whether different products or services need different VAT rates
If you are unsure which VAT rate applies, check with the person who manages your accounting.
1. Open Settings
Sign in to TrustistTransfer.
Select the Settings icon.
This is shown in the bottom-right of the screen.
2. Find the VAT Number Section
On the Settings page, find the VAT Number section.
This section lets you:
- View your current VAT number
- Edit your VAT number
- Add VAT rates
- Choose the default VAT rate for payments
3. Edit Your VAT Number
Select Edit ».
Enter your VAT number.
For example:
GB123456789
When you have entered the correct VAT number, select Save ».
If you do not want to save your changes, select Cancel ».
If the VAT number is not in a valid format, an Invalid VAT Number message will be shown.
4. Add a New VAT Rate
In the New VAT Rate section, enter a name for the VAT rate.
Use a name that will be easy to recognise later.
Examples include:
Standard RateReduced RateZero RateVAT Exempt
Then enter the VAT percentage.
Examples include:
2050
Select Save » to add the VAT rate.
VAT rates must be between 0 and 100.
5. Choose the Default VAT Rate
If you have added more than one VAT rate, you can choose which one should be the default.
Select the VAT rate you want to use as the default for new payments.
The default VAT rate is used automatically unless you choose a different rate when creating a payment.
You can still change the VAT rate for individual payments if needed.
6. Use VAT Rates on Individual Payments
When requesting a payment, the VAT options will be available if VAT rates have been set up on your account.
Open VAT Options on the payment screen.
Choose the VAT rate that applies to that payment.
This only changes the VAT rate for that individual payment.
To change the default VAT rate for the account, return to Settings.
7. Use VAT Rates on Payment Presets
Payment presets can also use VAT rates.
When creating or editing a payment preset, choose the VAT rate that should apply to payments requested using that preset.
This only changes the VAT rate for that preset.
If you change your account's default VAT rate later, check your saved payment presets to make sure they still use the correct VAT rate.
Important Information
Changing your VAT settings affects future payments.
It does not change payments that have already been taken.
If you use payment presets, check that each preset has the correct VAT rate after changing your VAT settings.
It is your responsibility to make sure the correct VAT rate is chosen.
Common Issues
My VAT Number Is Showing as Invalid
Check that the VAT number has been entered correctly.
Make sure it includes the correct country prefix if required, such as GB.
Remove any extra spaces or characters that should not be there.
I Cannot See the VAT Rate I Need
Go to Settings and add the VAT rate in the New VAT Rate section.
After it has been saved, it will be available when requesting payments or setting up payment presets.
The Wrong VAT Rate Is Being Used
Check which VAT rate is set as the default in Settings.
If the payment is being created from a payment preset, check the VAT rate saved on that preset.
I Am Not Sure Which VAT Rate to Use
Speak to the person who manages your accounting or tax records.
TrustistTransfer lets you choose the VAT rate, but it cannot tell you which rate applies to your business.
Need Help?
If you cannot update your VAT settings, or if something does not look right, contact: