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Link My Books for TikTok Shop
Account & Tax Mapping (UK Businesses)
TikTok Shop account and tax rate mappings for UK VAT registered businesses
TikTok Shop account and tax rate mappings for UK VAT registered businesses

An explanation of our default account & tax mappings for UK businesses selling on TikTok Shop

Daniel Little avatar
Written by Daniel Little
Updated over a week ago

The team at Link My Books are happy to provide users with technical assistance in applying tax rules to their Link My Books setup. We are not Tax Advisors and so our advice and suggestions on the application of tax rules cannot be construed as tax advice. We highly recommend that users seek advice from qualified accountants for their tax compliance.


Link My Books exists to make accounting for your TikTok Shop (and other e-commerce channels) sales, refunds, fees and VAT easy and accurate.

That's why as part of our quick and easy setup wizard, we'll provide you with some default accounts and tax rates to confirm.

This means that you can be confident your bookkeeping is clean and accurate. Trust me, your accountant will thank you for it.

Link My Books default accounts for TikTok Shop

TikTok Shop has hundreds of different transaction types, so to keep things simple we group them into 13 top level categories:

  1. Sales

  2. Refunds

  3. Shipping

  4. Shipping Refunds

  5. Inventory Reimbursements

  6. Seller Fees

  7. Fulfillment Fees

  8. Storage Fees

  9. Advertising Fees

  10. Reserved Balances

  11. Split Month Rollovers

  12. Sales Tax

  13. Loans

If you accept our default accounts during setup we'll create one account for each of these different categories and add them to your existing chart of accounts in Xero or QuickBooks.

Here are our default accounts:

Account Code & Name

Account Type

LMB70: TikTok Sales


LMB71: TikTok Refunds


LMB72: TikTok Shipping


LMB73: TikTok Shipping Refunds


LMB79: TikTok Inventory Reimbursements

Other income

LMB74: TikTok Seller Fees


LMB74b: TikTok Fulfillment Fees


LMB74c: TikTok Storage Fees


LMB74d: TikTok Advertising Fees


LMB75: Tiktok Reserved Balances

Current Liability

LMB76: TikTok Split Month Rollovers

Currency Asset

LMB77: TikTok Sales Tax

Current Liability

LMB78: TikTok Loans

Current Liability

πŸ’‘Good to know

You can, of course, choose any accounts you like during setup. Plus you can even dive deeper into the sub-categories contained within these top level categories. You can learn more about fine tuning your account mappings in this help article.

Link My Books default tax rates for TikTok Shop UK accounts

If you are VAT registered in the UK then we'll also provide some default tax rates for you to confirm.

Here are our default tax rates for sales revenue for UK VAT registered businesses:

Transaction Tax Category

Tax Rate

Standard Rated Goods Shipped to UK

20% (VAT on Income)

Reduced Rated Goods Shipped to UK

5% (VAT on Income)

Zero Rated Goods Shipped to UK

Zero Rated Income

Sales shipped outside UK

Zero Rated Income

Here are our default tax rates for fees & other transactions for UK VAT registered businesses:

Transaction Tax Category

Tax Rate

Inventory Reimbursements

20% (VAT on Income)*


20% (VAT on Expenses)

Split Month Rollovers


Sales Tax




Amazon Reserved Balances


*TikTok Shop reimburse sellers VAT inclusive amounts for items lost and damaged.

πŸ’‘Good to know

Again, you can change these tax rates to suit your business if you wish to do so - they are just defaults. You should only change tax rates on the Accounts & Taxes Wizard and not on the Accounts & Tax Mappings page.

If you have any questions about this article or feedback on how we could make it better please reach out to the support team via the blue chat icon on the bottom right of the page or via email to [email protected].

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