INVOICE TAX PROBLEMS

[jameshawtin]

HELLO

 

NEW USER SO HAVING A FEW TEETHING PROBLEMS SO ANY HELP WOULD BE GREAT.

 

DUE TO THE VAT TAX CHANGE IN THE UK I WANT TO CHANGE THE RATE FROM THE 17.5% ALREADY INSTALLED TO THE NEW 15% RATE IT ACTUALLY IS AT THE MINUTE. I HAVE BEEN INTO THE OPTIONS>TAX TAB AND HAVE CHANGED THE TAX NAME AND TAX RATE PERCENTAGE TO THE NEW VALUES (VAT(15%) AND 15.000) IN THE SPACES PROVIDED. BUT WHEN I SET UP AN INVOICE FOR SAY £100 THE VAT SHOWN ON THE INVOICE COMES OUT AS £13.04? WHERE 15% OF £100 IS £15!

 

 

AM I DOING ANYTHING WRONG OR HAVE I GOT THE WRONG IDEA OF HOW IT WORKS?

 

PLEASE HELP

 

THANKS

 

JAMES