Furthermore, we will not be responsible or liable for any funds that, due to incorrect or incomplete Bank Account information provided by you, have been paid to a bank account that is not held in your name. For example, a product which qualifies for the VAT margin scheme sells for 260.00 (260.00 charged on our iZettle card machine) The amount actually received in the bank is 255.45 because iZettle takes their fee of 1.75% of every transaction and this is taken before the funds reach our bank account. Pricing breaks down as follows: Cost of Zettle Reader: Currently 29 + VAT (Normally 59 + VAT) Transaction fees: Flat 1.75% Setup fee: 0 Reader pricing and fees subject to change. You receive a 1% (of gross) payment fee and receive 118.80. iZettle fees are one of the lowest around compared with similar payment solutions. Zettle may also make other charges that are not exempt. Are all the sales on that report Vatable? You have a sale of 100 + VAT and a 'purchase' (for want of a better word) of 1 + VAT. Last update and effective as of: 7 December 2022. Others (I know) are not. Your issuance of gift cards via the Zettle Gift Card Service is subject to VAT. Terminal Printer & Dock and Terminal with barcode scanner are sold separately. Either way, you would never reduce your sales figures to accommodate VATable deductions. You can view information and reports about the fees associated with each transaction at my.zettle.com. We may recover the amount of any Chargeback and any associated fees, fines, and/or penalties assessed by the Card Schemes or our Acquirers from funds credited to your Zettle Account or paid out to your PayPal Account or any other funds due to you under these Payment Terms and Conditions. In addition to any other obligations, requirements, restrictions or limitations set out in these Payment Terms and Conditions, you agree that you will not: a) apply a price threshold for accepting a Card, b) apply a higher price or additional fees for the use of a Card in connection with a transaction, unless permitted to do so under any laws, rules and regulations of your specific jurisdiction and the Card Scheme Rules, c) utilize any credit available on any Card to provide cash advances to customers, d) in relation to in-store transactions, carry out transactions in territories other than the United Kingdom and in currencies other than GBP, e) discriminate between Cards for any reason, unless permitted to do so under any laws, rules and regulations of your specific jurisdiction and the Card Scheme Rules, f) submit any transaction for processing that does not arise from your sale of products or services to your customer, i.e. You agree that you will not provide any false or misleading descriptions of any payment transaction that you submit through the Payment Service and that the descriptions given within itemised transactions will be an accurate and true description of the products and/or services being purchased. All refunds and adjustments related to Card transactions must be made to the customers Card. You agree that you are solely responsible for verifying the identity of your customers and the eligibility of each presented Card used to purchase your products and services and for all reversed or charged back transactions, regardless of the reason for, or timing of, the reversal or chargeback as further described in section 17. If these funds are not sufficient, you understand and agree that we are not obligated to process the refunds. *Additional terms and conditions apply. In addition to the fees set out in the fee schedule, we also pay fees to other parties involved in the payment flow. You may access your transaction information by logging into your Zettle Account. We may perform additional credit checks and verifications from time to time to determine whether you continue to be eligible for access to and use of the Payment Service. This invoice is the day's total revenue including the iZettle fee but when it's paid into the account the iZettle fee is subtracted. The cost for a wall plug is not included. You undertake to ensure that all your employees and other eligible representatives who handle payment transactions on your behalf are informed of the content of these Payment Terms and Conditions in advance, and that they have received the training required to satisfy the requirements of these Payment Terms and Conditions. The fee you pay to us is not affected by any of these fees. If you have any questions or concerns regarding the content of these Payment Terms and Conditions or would like to get a better understanding of how the Payment Service works, please do not hesitate to contact us. These subsections set out the authorisation(s) you will need to grant us to transfer funds credited from your Zettle Account to your Bank Account or PayPal Account (as the case may be). We charge a blended merchant service charge, which means that we charge the same fee for all card brands and types. Each monthly VAT invoice contains a summary of VAT-eligible fees (in USD) deducted in the previous month. HMRC guidance seems to state it is not exempt but I havent ever seen a credit card fee from someone like iZettle subject to VAT? If we are unable to recover funds related to a Chargeback for which you are liable, you will pay us the full amount of the Chargeback immediately on demand. You are solely responsible for accepting and processing returns of your products or services. When your customer has paid the invoice online by Card or by using any other online payment method made available by us in your jurisdiction in a correct manner, your customer shall be deemed to have fulfilled its payment obligation to you in relation to such invoice. You are not permitted to process Manual Card Entry transactions when your customers Card is present. You are solely responsible for compliance with laws and regulations that apply to your gift cards. We've made the app easy to use, with features to help you take payments in store and remotely, track sales with powerful reporting, manage stock and much more. Further, you may not issue more than 5,000 GBP in gift cards to any single person in any one day. In order to receive funds from your Zettle Account, you must designate and, if we so request, verify a bank account held in your name in a bank in the United Kingdom (Bank Account). The transaction fee is set at a flat rate of 1.75% for all card reader transactions, and there are no monthly fees or hidden costs. In addition to what is set out in section 10 of the General Terms and Conditions, you agree that we may from time to time be required to report to revenue or tax authorities, as required by law, your name, address and information regarding transactions processed by us on your behalf through your use of the Payment Service. The Zettle reader makes it easy to start taking card payments and its charges are among the lowest in the industry. If your designated Bank Account details are incorrect or incomplete or if we for any reason cannot verify that the bank account is held in your name, we may de-connect the Bank Account from your Zettle Account, and you confirm and agree that we will not be under any obligation to pay any funds to you until such time you have provided correct and complete Bank Account information and we, as applicable, have been able to verify that you are the holder of the Bank Account. We assume no liability to verify or otherwise control gift cards issued by you to customers, and you are solely responsible for providing accurate descriptions, information and content relating to gift cards issued by you under the Zettle Gift Card Service. Zettle uses Bambora and Elavon as its acquirers in the EU. I am 99% certain Zettle (Paypal) transaction fees are exempt from VAT. Thank you - Just seen this re: Go Cardless? In this context, you authorise and instruct us to comply with collection, deductions and remittance requests received from the relevant lender or financing provider (or its respective account bank or other service provider) on your behalf. iZettle Card Reader 2 59 +VAT: Uses the iZettle Card Reader 59: 49 or 249: 19: 69 or . You confirm and agree that we may require you to allow us, or a third party designated by us, to conduct an audit of your business and facilities in order to ensure your compliance with these Payment Terms and Conditions and the Card Scheme Rules. Further, you agree to inform your customers about the expiration date of the issued gift card as set out on the receipt you are liable to provide in accordance with section 11. PayPal (Europe) S. r.l. Is this because it is a reverse charge supply so if a UK company were looking at offering a similar service it would be fully VATable? We may also request your permission to do a physical inspection at your place of business and to examine your books and records that pertain to your compliance with these Payment Terms and Conditions. For example, if you purchase a pair of shoes for $100, and the value-added tax rate is 20%, you would pay $20 in VAT at the register . It is important that you understand the risks and liabilities associated with the use of the Payment Service, and you should read these Payment Terms and Conditions carefully before agreeing to them and before you start using the Payment Service. There are no monthly fees for using iZettle. Any closure or suspension of your Zettle Account does not relieve you of your obligations under these Payment Terms and Conditions and we may elect to continue to hold any funds deemed necessary pending resolution of any other terms or obligations defined in these Payment Terms and Conditions, including but not limited to Chargebacks, Fees, refunds, reversals, or other investigations or proceedings. We will only process Card transactions that have been authorised by the applicable Card Scheme or Card issuer, as the case may be. Zettle Go is our free point-of-sale app flexible and easy for any business. Wall plugs are not currently offered for sale by Zettle. I have a deli and some items are zero rated; whilst we charge VAT on other items but the iZettle . For VAT purposes, during the term of the swap there is a continuous supply of services and, to the extent that any money changes hands, there is an exempt supply under the VAT Act, Schedule 9 . The costs and fees of both compare well. Any amount attributable to a payment transaction may be reversed or charged back to your Zettle Account (a "Chargeback") if the transaction: a) is disputed in any way, b) is reversed for any reason by the Card issuer, c) was not authorised or we have reason to believe that it was not authorised, and/or d) is alleged to be illegal, suspicious or in violation of these Payment Terms and Conditions. If you usually make over 10,000 a month, iZettle can go lower than 1.75%, but the percentage will be customised to your situation so we can only make assumptions about those fees. Common questions in regards to our Terms & Conditions, Sign up to Zettle and connect with your Paypal account, How does the Zettle app work with the reader, Amount reserved in customer's bank account, How to scan a barcode using your smartphone or tablet, Connecting your iPhone or iPad to the internet via your printer, The Zettle Terminal built-in barcode scanner, How to write terms and conditions for your invoices, Changing email address and account settings, How we process contact details of cardholders, Reporting fake or suspicious emails and communication, Recording of telephone calls to Zettle's customer support. This section 16 applies only if you are a Zettle-only Merchant or Connected Merchant as described in section 1 above. Gift cards issued by you must only be redeemable at your store(s) for goods and/or services provided by you at your premise(s). After designating a Bank Account, you authorise and instruct us to initiate payment of funds credited to your Zettle Account to your Bank Account. No record of the 4.55 iZettle fee as it is charged before we even see the money from this sale. As a Connected Merchant, you accept that any payout of funds from your Zettle Account will be made to your PayPal Account. Invoice fees are pushed in a similar way to standard Zettle card fees (see "Fees" above). Your use of the Zettle Gift Card Service may mean that you are: a) issuing electronic money in the United Kingdom, which may require you to be authorised by, or registered with, the Financial Conduct Authority (FCA) as an electronic money institution (EMI) pursuant to the Electronic Money Regulations 2011 (EMRs); and/or b) providing payment services in the UK, which may require you to be authorised by, or registered with, the FCA as an EMI pursuant to the EMRs, with permission to carry out payment services; or as a payment institution (PI) pursuant to the Payment Services 2017 (PSRs). This is troublesome because any receipt that is produced by iZettle is simply not eligible and it makes accounting troublesome when paired with transactions with correct VAT. Full refunds must be for the exact amount of the original transaction including tax and handling charges. We will only begin permitting you to process transactions after we have determined that you are eligible for access to and use of the Payment Service. To use the Payment Service for sales from a physical sales location, you must download and install the App and, unless you are solely using the Tap on Phone Service, obtain one of our compatible card reader devices (Zettle Reader). To access and use the Payment Service, you must create a Zettle Account as described in section 1 of the General Terms and Conditions. You may terminate use of the Payment Service at any time. Do I need to charge VAT to client for Freelancer? PayPal (Europe) S. r.l. 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