How to claim VAT on Stock Donated to charity. Any liability for the use or misuse of your gift cards, and any third party claims arising from or relating to your gift cards, are your sole responsibility. You agree that you will comply with the Card Scheme Rules and the Specific Terms and that the Card Scheme Rules and the Specific Terms have precedence over these Payment Terms and Conditions with regards to the relevant payment method and that, in case of any conflict between a provision in these Payment Terms and Conditions and the Card Scheme Rules/the Specific Terms, the following order of priority will apply: (i) the Card Scheme Rules, (ii) the Specific Terms and (iii) the 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. If you are a Zettle-only Merchant, funds from a payment transaction credited to your Zettle Account will be paid out to your Bank Account. Create a bill in the name of iZettle at the end of each month for the total charges and pay it using the iZettle account (or do a money out transaction) 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. You are responsible for providing information to your customers about the terms in these Payment Terms and Conditions applying to issued gift cards, for example that you may not provide a cash refund, that amount thresholds apply and that there are only certain payment methods that are accepted. Last update and effective as of: 7 December 2022. 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. Subject to availability. Refunds are free to process and you also get the transaction fee refunded. Zettle Dock and Reader are sold separately. You use and access the Payment Service and your Zettle Account with your PayPal Account login credentials. Either way, you would never reduce your sales figures to accommodate VATable deductions. 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. Pricing for Zettle is clear and concise with no hidden fees to worry about either (Image credit: iZettle) Features Find general information on reports in this article, or read more about understanding your fees in our article about transaction reports and fee schedules. Such change can be made unilaterally by us, the Card Scheme Rules administrators, or the Third Party Payment Providers without notice but we will try to inform you in advance. By accepting these Payment Terms and Conditions, you request and agree that we charge you the Fees (as a blended merchant service charge) assessed and calculated by us in accordance with the Fee schedule. 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. I note there is no VAT on iZettle charges and others who offer the same service. iZettle's fees range from 2.75 percent for monthly card turnovers below 2,015 down to just 1 percent for monthly card turnovers above 39,693. You need a Zettle control account in the software. Refunds processed through the Payment Service must be submitted within thirty days of the original transaction. A single payment is simultaneously pushed for the full payment of the bill, representing the transfer of money out of the liquid account to pay the fees. . Each monthly VAT invoice contains a summary of VAT-eligible fees (in USD) deducted in the previous month. In addition to any other warranties set out in these Payment Terms and Conditions and in section 14 of the General Terms and Conditions, you warrant to us that: a) any payment transaction submitted by you through the Payment Service will represent a bona fide sale by you, b) any payment transaction submitted by you through the Payment Service will accurately describe the products or services sold and delivered to your customer, c) you will fulfil all of your obligations to each customer on behalf of whom you submit a payment transaction and will resolve any customer dispute or complaint directly with the customer, d) you will, and any payment transactions submitted by you through the Payment Service will, comply with all laws, rules and regulations applicable to your business and the Payment Service, e) except in the ordinary course of business, no payment transaction submitted by you through the Payment Service will represent a sale to any principal, partner, proprietor, or owner of your business, f) you will not use the Payment Service, directly or indirectly, for any fraudulent undertaking or in any manner so as to interfere with the use of the Payment Service. To be eligible to process Manual Card Entry transactions, you must be a Fully Merged Merchant and have successfully completed a Card transaction through a Zettle Reader. You agree, upon our request, to take all reasonable measures to assist us in verifying your Bank Account. We reserve the right to temporarily suspend and/or delay payouts to your Designated Account and/or restrict access to any funds credited to your Zettle Account where we need to conduct an investigation or resolve any pending dispute relating to your Zettle Account and/or as necessary to comply with the Card Scheme Rules, applicable law or court order or if otherwise requested by law enforcement or any governmental authority. The costs and fees of both compare well. The fee you pay to us is not affected by any of these fees. The Card Scheme Rules applicable to merchants and the Specific Terms relating to the payment methods you have signed up for will form part of your agreement with us. These payment alternatives as well as the functionalities set out in section 12 may not be available in your country. iZettle also sells POS . 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. Deemed authorised and regulated by the Financial Conduct Authority. 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. You are responsible for, and warrant, to collect, store and process Customer Information in accordance with all applicable laws, rules and regulations and your privacy policy, which includes having the right, and having ensured to have an appropriate lawful basis in place, to be able to collect, store and process the Customer Information obtained through the use of the Invoicing Service. This authorisation and instruction will remain in full force and effect until your Zettle Account is closed or terminated. Additional information about the Zettle Gift Card Service can be found on our Website. I note there is no VAT on iZettle charges and others who offer the same service. You agree to reimburse such third party or us for any and all such liability. Your Output VAT on a 100 sale at standard rate is 20 - end of! The Zettle Gift Card Service does not include the supply of physical cards or other value certificates. 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). Check it out here. I am 99% certain Zettle (Paypal) transaction fees are exempt from VAT. How the refund is processed through the Payment Service depends on which group of Merchants you belong to in accordance with section 1 above: If you are a Zettle-only Merchant or a Connected Merchant, for approved refunds, we will deduct the refund amount (including any applicable fees) from funds owed to you from the processing of other transactions, or funds credited to your Zettle Account. The use of the Payment Service is subject to certain limits relating to daily Card transaction volume as further specified on our Website. You may terminate use of the Payment Service at any time. You may also purchase Zettle Readers from our Accessories Store or from other authorised retailers. The Reserve will serve as security to cover anticipated Chargebacks, refunds and/or unfulfilled products or services or credit risk based on your processing history, and we will have the right to collect and set off from the Reserve all amounts that you owe us under these Payment Terms and Conditions. As for transaction fees, here's what iZettle charges: Card-Present Transactions: 1.75% Invoiced Transactions: 2.5% Payment Link Transactions: 2.5% Keyed-In Transactions: 3.4% + 20p QR Code PayPal Payments: 1.75% The iZettle Reader retails for 59, excluding VAT, while the Zettle Terminal sells for 149 (excluding VAT). Prior to November 2018, fees on the invoices were based in United States Dollar (USD). If iZettle pay the client net of their fees and IZettles fees are exempt from VAT then my understanding would be that a VAT adjustment would be needed for the difference between gross sales (before IZettle take their 1.75%) and the net amount IZettle pay the client. 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. consumer card or commercial card). The interchange fee and scheme fee may vary depending on which acquirer we use. A bill is pushed with a single line item with the expense account set to the Invoice fees account. If the IZettle fees are not VATable then should I make an adjutment to sales via a journal Debit IZettle Fees 175 Credit VAT Output 29.16 Credit Sales 145.84 to account for the VAT. Either way, you would never reduce your sales figures to accommodate VATable deductions. 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. If there has been no activity on your Zettle Account for at least two consecutive years and you have a balance on your Zettle Account, we will notify you on the email address registered by you and/or associated with the Zettle Account and give you the option to keep your Zettle Account active or to close your Zettle Account and request a withdrawal of any funds that we hold on your behalf. Is this because it is a reverse charge supply so if a UK company were lookin. 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. You authorise and instruct us to receive, hold and disburse funds in accordance with these Payment Terms and Conditions on your behalf. Others (I know) are not. 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 . 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. Card transactions via your online store cost 2.5% each, while . If you are a Fully Merged Merchant, for approved refunds, we will deduct the refund amount (including any applicable fees) from funds owed to you from processing of other transactions, or funds on your PayPal Account. 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. You may access your transaction information by logging into your Zettle 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. When you log into your Zettle Account, you see the balance of your Zettle Account. The interchange fees and scheme fees charged by Bambora and Elavon are separately provided in the fee schedule. You acknowledge and understand that the Gift Card Service only supports multi-purpose vouchers meaning that any VAT due is only payable when the voucher is redeemed for goods or services. Internet connection and data usage For Zettle to work, you need to be connected to a 3G, 4G or wifi network. Thank you - Just seen this re: Go Cardless? This includes a transaction reference, the costs charged to you as a Zettle user and the amount of the transaction in the currency of the Zettle account. Choose Undeposited Funds in the Deposit to drop-down. 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. 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? You may not issue gift cards with a value in excess of 1,000 GBP (or its equivalent in foreign currency) or add value to a previously issued gift card so that the total funds loaded on a gift card in any single day exceed 1,000 GBP. Our bank account shows 255.45 received. You are also responsible for providing customer services for buyers and holders of gift cards. PayPal's fee drops to 1% after passing the 15,000/month . 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). 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. The acquirer is the party that processes and settles the payment from your customer to Zettle. 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