Vehicles - Parameters - Parameters - Parameters tab - Tax
Default tax type/Default tax category: These work in conjunction with one another and are mandatory fields. This allows the system to know what nominal codes and what tax rate to apply when selling or purchasing a VAT qualifying vehicle. The nominal codes and tax rates are set in the nominal ledger parameters which will be covered in another article.
Display invoice total summary: If this is set to yes you are given an additional line at the bottom of the tax break down of the invoice which gives a total of how much VAT there is on the deal.
VAT on Deposit: If set to Yes, VAT will be added onto deposits.
Disable Margin Scheme Parameter: this parameter is for use in international markets and does not apply to the UK. It should be left as no if operating in the UK.
Allow Negative Margin Scheme: This dictates if a vehicle sale has negative profit, will it calculate margin VAT negatively or remain at 0.
Exempt Tax on New Electric Vehicles: If set to Yes, any New Electric Vehicles will be tax exempt.