Recent content by tombbb

  1. tombbb

    VAT on commission (again)

    So if I get it correctly, both steps 4 and 6 are vatable? Just to clarify: John's agreement is X% from our net profit, so we don't deduct these £200 (step 4) from his money but ours, therefore does it still qualify as a service and is still vatable?
  2. tombbb

    VAT on commission (again)

    Another quick question related to step 4. where we calculate our immediate expenses - is it ok (in terms of VAT rules) to calculate this value as flat rate (let's say 10% of the total income) instead of calculating the actual value of expenses. The main reason being the simplicity, as we deal...
  3. tombbb

    VAT on commission (again)

    Yes, absolutely. We actually own the products and paying ongoing commission to John Doe for his contribution to the product (let's say graphic design, and then he is responsible for all graphic design changes to the product). All of this is of course outlined in the written agreement. We also...
  4. tombbb

    VAT on commission (again)

    Hey everyone. We recently registered for VAT but I'm a bit confused on how we should go about charging VAT on commissions we pay to our artists. Here's the scenario: We sell Product X We pay commission (from our net profit) of 20% to John Doe We are VAT registered John Doe is not VAT...
  5. tombbb

    Video recording studio + Office space (and HMRC)

    Yes there is
  6. tombbb

    Video recording studio + Office space (and HMRC)

    All of them (camera, lenses, lights etc) are assets of the company
  7. tombbb

    Video recording studio + Office space (and HMRC)

    Hey everyone, I'm interested to see your opinion on the following situation: We have a small office space in town Since our business requires constant video recording (mainly for training customers how to use our products), we need a dedicated studio for this purpose, as our business office...
  8. tombbb

    Selling on digital marketplaces - invoicing and VAT

    Make sense. Thanks for your help!
  9. tombbb

    Selling on digital marketplaces - invoicing and VAT

    We do take care of the customer after sale (providing customer support with the product), but that's pretty much it. If customer wants a refund for example, they have to contact the marketplace directly and we cannot approve/refuse this request.
  10. tombbb

    Selling on digital marketplaces - invoicing and VAT

    Thanks for clarifying some points guys. I think they are trying to avoid being perceived as the seller of the item as: they put "Thank you for buying from XXX Company (my company) on YYY market" in their VAT collection help document they say: "For EU VAT purposes only, YYY market steps into the...
  11. tombbb

    Selling on digital marketplaces - invoicing and VAT

    Hey everyone, I'm having a bit unclear view of several VAT issues related to online marketplaces when the following applies: we are UK registered Ltd. using digital marketplace (registered in Australia) to sell software they issue invoices in our company's name directly to the customer...
See more
Top Bottom
Community
Articles
Menu