We charge per transaction there are no hidden fees or lock-in contracts. I note there is no VAT on iZettle charges and others who offer the same service. VAT Help Documents Scheme fees per transaction vary depending on: Card type (e.g. 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. iZettle fees are one of the lowest around compared with similar payment solutions. . Your Output VAT on a 100 sale at standard rate is 20 - end of! Thank you - Just seen this re: Go Cardless? You authorise and instruct us to receive, hold and disburse funds in accordance with these Payment Terms and Conditions on your behalf. 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. You undertake to: a) maintain a fair return, cancellation or adjustment policy, b) disclose your return or cancellation policy to customers at the time of purchase, c) not give cash refunds to a customer in connection with a Card transaction, unless required by law, and d) not accept cash or any other item of value for preparing a Card transaction refund. All Zettle hardware is a one-off purchase with no recurring costs and our POS app is free to download, so you only pay for the transactions you process. *Youll find the full list of transaction fees for all accepted payment methods on our pricing page. So lets say gross sale by the client to his customer is 120. Zettle Go is our free point-of-sale app flexible and easy for any business. This is due to a change in the application of tax law which means we can no longer benefit from a VAT exemption applying to the supply of payment services. Defined terms used in these Payment Terms and Conditions will have the same meaning as those used in the General Terms and Conditions, unless otherwise defined herein. The Payment Service is subject to the Card Scheme Rules and may also be subject to specific terms and conditions which apply to the use of certain payment methods (Specific Terms) provided by us or a third party (a Third Party Payment Provider). When using the Invoicing Service you agree that we are not responsible, for, will have no liability in respect of, and that you are solely responsible for a) issuing, managing and administrating the invoices generated through the use of the Invoicing Service in accordance with all applicable laws, rules and regulations and your privacy policy, b) the accuracy and completeness of your invoices, c) ensuring that your customers pay in accordance with the invoice issued through the use of the Invoicing Service, d) any payment instructions being incorrect, e) funds that, due to you providing incorrect information to us, have been transferred to a bank account that does not belong to you, and f) the recipient of the invoice having such technical installations, firewalls, domains, software etc. Your continuing use of such payment method constitutes your consent and agreement to such additions, deletions or amendments. How to claim VAT on Stock Donated to charity. Weve 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. We reserve the right, upon notice to you, to charge a fee for mediating and/or investigating Chargeback disputes. All the products the client sells are VATable. So VAT payable would be understated by 35p so an adjustment is needed, Thats my understanding of it but happy to be advised if this is not correct. Choose Undeposited Funds in the Deposit to drop-down. 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. Zettle uses Bambora and Elavon as its acquirers in the EU. GoCardless is now required to charge VAT across all of the fees that we charge for our services provided to merchants located in the UK and France. Further information on the Card Scheme Rules and the Specific Terms can be found here. If the amount received of 117.90 was entered through the books the VAT on that would only be 19.65. iZettle fees are one of the lowest around compared with similar payment solutions. Do I need to charge VAT to client for Freelancer? Also, when I reconcile iZettle payments into the account there doesn't appear to be an option to recognise VAT. (R.C.S. Where VATable deductions are made from payments received, that VAT would be an input! To enable the use of Manual Card Entry, you must follow the instructions and comply with any requirements, in each case as determined by us, an Acquirer, or a Card Scheme. 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. Izettle fees. The interchange fee and scheme fee may vary depending on which acquirer we use. Last update and effective as of: 7 December 2022. If you do not agree to these Payment Terms and Conditions (or if you do not have the right to bind the company or other business entity you are representing), you are not permitted to access or use the Payment Service. You must provide us all information and documentation in your possession as to the circumstances of any such error and/or unauthorised or illegal use of your Zettle Account and take all reasonable steps requested by us to assist in our investigation. You may not redeem a previously issued gift card with another gift card. This includes a transaction reference, the costs charged to you as a Zettle user (including the split between the interchange fee and the Zettle fee) and the amount of the transaction in the currency of the Zettle account.Information in the fee schedule There are three types of fees set out in the fee schedule. 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. These Payment Terms and Conditions will survive your termination of the Payment Service for so long as is necessary in our discretion to carry out their intent. We reserve the right to suspend your access to and use of the Payment Service and to terminate and close your Zettle Account and your PayPal Account if we determine that you are no longer eligible for access to and use of the Payment Service or if you fail to promptly comply with any requests from us in accordance with the above. These terms and conditions, including the terms, policies, guidelines and instructions referred to herein ("Zettle Pro Terms") constitute a legal agreement between iZettle Merchant Services AB, a limited liability company, registered in Sweden under company number 556812-2674, with our registered office at . By accepting these Payment Terms, you accept that, upon reaching these thresholds, the Commercial Entity Agreement(s) will automatically apply between you, us and the relevant Acquirer, respectively. The PayPal Zettle app carries no monthly fees. If these funds are not sufficient, you understand and agree that we are not obligated to process the refunds. Any funds credited to your Zettle Account and held by us on your behalf at the time your Zettle Account is suspended or closed will be paid out to you in accordance with section 14, unless otherwise set out in these Payment Terms and Conditions. When you log into your Zettle Account, you see the balance of your Zettle Account. You may only use the Invoicing Service in order to issue, manage and administer invoices in accordance with these Payment Terms and Conditions. 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. 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. Monthly fee Free Phone support weekdays, 9am-5pm Integrates with popular apps App features include: Card and cash payments Sales reports Gift cards Refunds and discounts Staff management Sign up For more information about our fees, please read here. 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. However IZettle pay the client 120 less 1.75% ie 117.90. Under the PSRs and EMRs, a person providing payment services or issuing electronic money without FCA authorisation or registration in reliance on the exclusion known as the limited network exclusion (LNE), must notify the FCA where the total value of the payment transactions executed through such services and/or made with the electronic money in any period of twelve months exceeds 1 000 000 euros (or its equivalent in foreign currency). You may not use the Payment Service to carry out Card transactions with your own Cards or any Cards that are issued in your name. You agree to assist us when requested, at your expense, to investigate any transaction processed through the Payment Service. The Zettle Gift Card Service does not include the supply of physical cards or other value certificates. If the error results in your receipt of less than the amount to which you were entitled, we will credit your Zettle Account for the difference. If there are insufficient funds to cover your liability, you agree to reimburse us immediately on demand through other means. The Payment Service can be used to accept card transactions with most credit, debit and other types of cards (each a Card) bearing the trademarks of the Card Schemes as further specified on our Website. If you have a PayPal Account and you separately create a Zettle Account which you authorise and instruct us to connect to your PayPal Account, your PayPal Account and Zettle Account are connected ("Connected Merchant"). Value-added tax is typically a percentage of the sale price. consumer card or commercial card). Your money arrives in your account in 1-2 working days. The transaction information will also show all Fees incurred, any other amounts charged to your Zettle Account in the relevant period and information on payouts to your Designated Account. 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. Internet connection and data usage For Zettle to work, you need to be connected to a 3G, 4G or wifi network. Subject to your compliance with these Payment Terms and Conditions, we consider that your use of the Zettle Gift Card Service falls within the LNE, i.e. You are also responsible to contact us if you suspect that your Zettle Reader has been tampered with or stolen. This is the fee we pay to the card issuer (bank or other financial institution) that supplied the card to your customer. 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. Subject to sections 16 and 17 of the General Terms and Conditions, we are further liable to ensure that funds credited to your Zettle Account are paid out to your Designated Account in accordance with section 14, provided that we have received such funds from the relevant Card Scheme, Acquirer or third party financial institution, as the case may be, on the Client Account. You may terminate use of the Payment Service at any time. Fees will be assessed at the time a transaction is processed and will be deducted from the funds received by us and credited to your Zettle Account or PayPal Account. Funds from a payment transaction credited to your Zettle Account will not be paid out to your Designated Account until the transaction is deemed completed. By signing up for the Payment Service, you instruct and authorise us to perform credit checks, sanction controls and other verifications which may require that you supply such additional information and documentation as is reasonably required for us to verify your identity and fulfil all our anti-money laundering, counter terrorist financing and other regulatory obligations. You will receive funds either to your PayPal Account or Bank Account (your Designated Account) depending on the group of Merchants you fall in as described in section 1 above: If you are a Fully Merged Merchant, funds from a payment transaction credited to your Zettle Account will be paid out to your PayPal Account per transaction. Its suitable for most types of businesses and integrates with a host of software, so you can build what works for you. A step by step guide to starting your own practice. The fear of god roaring at you does actually stand you one in good stead, Is VAT charged on IZettle fees confused by VAT notice and HMRC v NEC ruling, Discover the Accounting Excellence Awards, Explore our AccountingWEB Live Shows and Episodes, Sign up to watch the Accounting Excellence Talks, Preparing clients for postponed VAT accounting. An authorised payment transaction may not be withdrawn by you or your customer after the end of the day on which your customer authorised the transaction. Subject to sections 16 and 17 of the General Terms and Conditions, we are liable to ensure that payment transactions initiated through the Payment Service are properly submitted to the end customers payment service provider, through the applicable Card Scheme, Acquirer, or other intermediary service providers, and that payment transactions carried out through the Payment Service are executed properly, provided that: a) the transaction has been authorised by the end customer, b) the transaction complies with these Payment Terms and Conditions, and c) you have complied with your obligations under these Payment Terms and Conditions. (R.C.S. Feel free to leave a reply if you have more questions about managing VAT rates, TLC1231. We may require and/or hold a Reserve for any reason, including if you have a high rate of Chargebacks, refunds, or other indications of performance problems related to your use of the Payment Service. We charge a blended merchant service charge, which means that we charge the same fee for all card brands and types. Once we have verified your Designated Account (if applicable), we will take commercially reasonable efforts to initiate payout of funds (less our Fees, Chargebacks, reserve, refunds, reversals, claims and other funds owed to us) to your Designated Account on the business day immediately following the business day on which we received the funds on the Client Account, unless otherwise set out in these Payment Terms and Conditions. There are specific Fees associated with processing Manual Card Entry transactions, as set forth on the PayPal.com Website. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authoritys website. Your issuance of gift cards via the Zettle Gift Card Service is subject to VAT. By accepting these Payment Terms and Conditions, you request and agree that we may aggregate this information for all Card transactions by brand, application, payment instrument categories and rates of interchange fees applicable to the transaction, as applicable, and that we make this information available to you periodically, at least once per month, via your Zettle Account in a format making it possible for you to store and reproduce the information in unchanged form. For the avoidance of doubt, if you use the payment method provided by Klarna, we have the right to acquire and re-transfer to Klarna any claims against your customer resulting from your sale of goods or services to said customer, as further described in the Specific Terms. 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 . You may use the Payment Service to process card-present transactions (i.e. Our Acquirers and the Card Schemes may from time to time impose certain limits on Merchants annual Card transaction volume through the use of the Payment Service. et Cie, S.C.A. My understanding from HMRC VAT Notice 701/49 Para 4.8 is that there is no VAT on these fees. By creating a Zettle Account (defined below) you accept and agree to comply with these Payment Terms and Conditions. Our webshop offers POS and hardware combinations, receipt printers, barcode scanners and more. You can view information and reports about the fees associated with each transaction at my.zettle.com. To access and use the Payment Service, you must create a Zettle Account as described in section 1 of the General Terms and Conditions. PayPal's fee drops to 1% after passing the 15,000/month . iZettle also sells POS . By accepting these Payment Terms and Conditions, you agree that you will not use the Payment Service to accept payments in connection with the following businesses or business activities without our express written approval, which approval we may withhold or revoke in our sole discretion where we find this to pose a risk to our business and/or reputation: a) private healthcare services, b) gambling and betting services (irrespective of if such gambling and betting services are provided in accordance with all applicable laws and authorised by all applicable regulatory authorities), c) financial services (irrespective of if such financial services are provided in accordance with all applicable laws and authorised by all applicable regulatory authorities), d) gift cards (other than as set out in section 3 and section 28 as well as in accordance with our General Terms and Conditions), e) services involving the organisation of planned public or social events, such as sale of tickets, or f) transportation and travelling. After designating a Bank Account, you authorise and instruct us to initiate payment of funds credited to your Zettle Account to your Bank Account. A Card transaction will be deemed completed when we have received the funds from the relevant Card Scheme or Acquirer. This fee is the only fee for transactions that you pay to Zettle. PayPal QR code transaction fees are the same flat rate as card transaction fees for transactions you process with your Zettle Reader or Terminal. The fee you pay to us is not affected by any of these fees. For each sale, there will be a receipt and two payments. Terminal pricing and fees subject to change. You may not provide a cash refund on gift cards except to the extent required by law. Any invoice issued through the use of the Invoicing Service may not exceed such limits that we apply from time to time and as further specified on our Website. Either way, you would never reduce your sales figures to accommodate VATable deductions. you may not submit any transaction for processing which is originating from sales or activities offered by other parties, g) submit any transaction for processing that you know or should have known to be fraudulent or not authorised by the customer, h) act as a payment intermediary or aggregator or otherwise resell the Payment Service, i) submit for processing any transaction representing the refinancing of an existing obligation of a customer, j) require any customer to waive its right to dispute a transaction, k) require any customer to disclose his/her PIN at any point during a Card transaction, l) print data referencing any customer's PIN or card number on any receipt, or m) process one purchase of goods and/or services as several payment transactions. Fees will be assessed at the time a transaction is processed and will be deducted from the funds received by us and credited to your Zettle Account or PayPal Account. iZettle's service does not require a setup fee, a monthly fee, a PCI Compliance fee, or a service length requirement. The price of hardware depends on what you need. You may access your transaction information by logging into your Zettle Account. Once we have obtained, collected and verified all your information, we will assess whether you are eligible to get access to and use the Payment Service. 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. Customers may receive an electronic receipt via email or SMS, rather than a paper receipt. You have a sale of 100 + VAT and a 'purchase' (for want of a better word) of 1 + VAT. For the use of the Payment Service you agree to pay the fees (Fees) assessed and calculated by us in accordance with the fee schedule available either (i) on the Zettle.comWebsite if you are either a Connected Merchant or Zettle-only Merchant or (ii) on the PayPal.com Website if you are a Fully Merged Merchant. It's suitable for most types of businesses and integrates with a host of software, so you can build what works for you. 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