The Tour Operators' Margin Scheme (TOMS) can be used by businesses with an establishment in the UK who buy travel, holidays and certain other services from an EC member state and sell them to a traveller, that is a person rather than a business, in the UK. The scheme was introduced as part of the EC VAT system to provide uniformity for all EC member states.
To create a VAT Adjustments nominal codeOpen the Company module, from the Links pane click Nominal Ledger then click Record. Sage Accounts v11.xx and below - Open the Nominal Ledger module then click Record.
The Nominal Record window appears.
Complete the Nominal Record as follows:
In the N/C box, enter the required nominal code, for example, 4999.
In the Name box, enter a name for the nominal code, for example,...