Using Financials for EMEAManage TaxesManage Taxes You must set up the VAT tax for the UK Tax Regime. This is mandatory for the tax status code setup. Follow these steps: Navigate to Setup and Maintenance and click Manage Taxes. Edit the GB VAT tax value. In the Edit Tax: GB VAT dialog box, complete the setup as needed. You must pay VAT to HMRC at the Tax rate of 20% of the VAT exclusive selling price for reverse charge goods. Click Save.