VAT/TAX Rates

These are the VAT rates that will be used if the VAT facilities in Prodev are used.  See the section ‘VAT in Prodev’ for more information.

VAT is not normally used in appraisals because generally it is recoverable and therefore has a minimal effect on viability, however Prodev does have the capability to deal with recoverable (and non-recoverable) VAT.

Please note that VAT will not automatically be charged just because a VAT rate is showing.  The VAT system in Prodev is controlled by the VAT menu which sets those items of cost and revenue to which VAT is applicable.  You will notice in the Data List that there is a grey column to the right of the numeric entries predominantly displaying the letter ‘z’ (for zero rated).  All Prodev costs and sales are zero rated by default, therefore no VAT will be charged until these are altered despite the presence of VAT rates in the Data List.

VAT can be a complex subject to understand and apply so you are cautioned to check that its use in your project is correct.  Certain versions of Prodev may show all references to ‘VAT’ as ‘Tax’ as the term VAT is UK specific.  In use the operation is identical, it is only the terminology that differs.