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| | | Author: | Funky.Figures  | | Posted: | Aug 2, 2021 10:12 | | Subject: | So confused on this VAT (lOSS) | | Viewed: | 191 times | | Topic: | Selling | |
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| HI All
confused on all this
im only a small ish store and don't meet this 10,000 Euro sales quota by
any means
why is Bricklink adding the VAT to my invoices that I send to European buyers
and then that money is paid to me and goes in to my account which as im aware
is illegal in the UK (after speaking to my Accountant)as your not allowed collect
VAT if you are NOT VAT registered .???
Any help understanding this would be much appreciated
Thanks
Gary
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| | | | | Author: | jbroman | | Posted: | Aug 2, 2021 10:41 | | Subject: | Re: So confused on this VAT (lOSS) | | Viewed: | 108 times | | Topic: | Selling | |
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| In Selling, gazzabrickstore writes:
| | HI All
confused on all this
im only a small ish store and don't meet this 10,000 Euro sales quota by
any means
why is Bricklink adding the VAT to my invoices that I send to European buyers
and then that money is paid to me and goes in to my account which as im aware
is illegal in the UK (after speaking to my Accountant)as your not allowed collect
VAT if you are NOT VAT registered .???
Any help understanding this would be much appreciated
Thanks
Gary
|
As BrickLink is an online marketplace they are required to collect the VAT.
You may notice on your PayPal statement their is a line for “Partner Commission”.
This is that VAT that is paid by the buyer and then forwarded to BrickLink for
them to forward it to the proper tax authority.
You do not receive the VAT yourself.
BrickLink is registered to the IOSS, has an IOSS VAT ID. You may remember they
have already messaged about it (both e-mail and on the forum:
https://www.bricklink.com/message.asp?ID=1277484
https://www.bricklink.com/message.asp?ID=1278461 ),
FAQ
https://www.bricklink.com/help.asp?helpID=2518
https://www.bricklink.com/help.asp?helpID=2517
Search this forum and you will find many more messages regarding the VAT.
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| | | | | | | Author: | Dino | | Posted: | Aug 2, 2021 11:40 | | Subject: | Re: So confused on this VAT (lOSS) | | Viewed: | 76 times | | Topic: | Selling | |
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| In Selling, jbroman writes:
| | In Selling, gazzabrickstore writes:
| | HI All
confused on all this
im only a small ish store and don't meet this 10,000 Euro sales quota by
any means
why is Bricklink adding the VAT to my invoices that I send to European buyers
and then that money is paid to me and goes in to my account which as im aware
is illegal in the UK (after speaking to my Accountant)as your not allowed collect
VAT if you are NOT VAT registered .???
Any help understanding this would be much appreciated
Thanks
Gary
|
As BrickLink is an online marketplace they are required to collect the VAT.
You may notice on your PayPal statement their is a line for “Partner Commission”.
This is that VAT that is paid by the buyer and then forwarded to BrickLink for
them to forward it to the proper tax authority.
You do not receive the VAT yourself.
BrickLink is registered to the IOSS, has an IOSS VAT ID. You may remember they
have already messaged about it (both e-mail and on the forum:
https://www.bricklink.com/message.asp?ID=1277484
https://www.bricklink.com/message.asp?ID=1278461 ),
FAQ
https://www.bricklink.com/help.asp?helpID=2518
https://www.bricklink.com/help.asp?helpID=2517
Search this forum and you will find many more messages regarding the VAT.
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Of course, all the money goes to the account of the seller. How else could Paypal
deduct the total cost from the seller's account?
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| | | | | | | | | Author: | yorbrick | | Posted: | Aug 2, 2021 11:57 | | Subject: | Re: So confused on this VAT (lOSS) | | Viewed: | 84 times | | Topic: | Selling | |
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| In Selling, Dino1 writes:
| | In Selling, jbroman writes:
| | In Selling, gazzabrickstore writes:
| | HI All
confused on all this
im only a small ish store and don't meet this 10,000 Euro sales quota by
any means
why is Bricklink adding the VAT to my invoices that I send to European buyers
and then that money is paid to me and goes in to my account which as im aware
is illegal in the UK (after speaking to my Accountant)as your not allowed collect
VAT if you are NOT VAT registered .???
Any help understanding this would be much appreciated
Thanks
Gary
|
As BrickLink is an online marketplace they are required to collect the VAT.
You may notice on your PayPal statement their is a line for “Partner Commission”.
This is that VAT that is paid by the buyer and then forwarded to BrickLink for
them to forward it to the proper tax authority.
You do not receive the VAT yourself.
BrickLink is registered to the IOSS, has an IOSS VAT ID. You may remember they
have already messaged about it (both e-mail and on the forum:
https://www.bricklink.com/message.asp?ID=1277484
https://www.bricklink.com/message.asp?ID=1278461 ),
FAQ
https://www.bricklink.com/help.asp?helpID=2518
https://www.bricklink.com/help.asp?helpID=2517
Search this forum and you will find many more messages regarding the VAT.
|
Of course, all the money goes to the account of the seller. How else could Paypal
deduct the total cost from the seller's account?
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Simple. The buyer pays the whole amount in one transaction. The pp fees get removed.
BL receives the tax element, the seller gets what is left.
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| | | | | | | | | | | Author: | Dino | | Posted: | Aug 2, 2021 14:41 | | Subject: | Re: So confused on this VAT (lOSS) | | Viewed: | 74 times | | Topic: | Selling | |
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| In Selling, yorbrick writes:
| | In Selling, Dino1 writes:
| | In Selling, jbroman writes:
| | In Selling, gazzabrickstore writes:
| | HI All
confused on all this
im only a small ish store and don't meet this 10,000 Euro sales quota by
any means
why is Bricklink adding the VAT to my invoices that I send to European buyers
and then that money is paid to me and goes in to my account which as im aware
is illegal in the UK (after speaking to my Accountant)as your not allowed collect
VAT if you are NOT VAT registered .???
Any help understanding this would be much appreciated
Thanks
Gary
|
As BrickLink is an online marketplace they are required to collect the VAT.
You may notice on your PayPal statement their is a line for “Partner Commission”.
This is that VAT that is paid by the buyer and then forwarded to BrickLink for
them to forward it to the proper tax authority.
You do not receive the VAT yourself.
BrickLink is registered to the IOSS, has an IOSS VAT ID. You may remember they
have already messaged about it (both e-mail and on the forum:
https://www.bricklink.com/message.asp?ID=1277484
https://www.bricklink.com/message.asp?ID=1278461 ),
FAQ
https://www.bricklink.com/help.asp?helpID=2518
https://www.bricklink.com/help.asp?helpID=2517
Search this forum and you will find many more messages regarding the VAT.
|
Of course, all the money goes to the account of the seller. How else could Paypal
deduct the total cost from the seller's account?
|
Simple. The buyer pays the whole amount in one transaction. The pp fees get removed.
BL receives the tax element, the seller gets what is left.
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Sure! But the total amount is in the seller's account. Then Paypal deducts
the fees and transfers the tax portion to BL's account. In this way, the
seller has claimed the tax on the buyer and the buyer has also paid it to the
seller's account.
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| | | | | | | | | | | | | Author: | Bricks_NW_UK | | Posted: | Aug 2, 2021 16:10 | | Subject: | Re: So confused on this VAT (lOSS) | | Viewed: | 61 times | | Topic: | Selling | |
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| | | Sure! But the total amount is in the seller's account. Then Paypal deducts
the fees and transfers the tax portion to BL's account. In this way, the
seller has claimed the tax on the buyer and the buyer has also paid it to the
seller's account.
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Does this mean that the seller would pay Paypal fees on the VAT element as well?
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| | | | | | | | | | | | | | | Author: | yorbrick | | Posted: | Aug 2, 2021 16:33 | | Subject: | Re: So confused on this VAT (lOSS) | | Viewed: | 67 times | | Topic: | Selling | |
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| In Selling, Bricks_NW_UK writes:
| | | | Sure! But the total amount is in the seller's account. Then Paypal deducts
the fees and transfers the tax portion to BL's account. In this way, the
seller has claimed the tax on the buyer and the buyer has also paid it to the
seller's account.
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Does this mean that the seller would pay Paypal fees on the VAT element as well?
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Yes.
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| | | | | | | Author: | popsicle | | Posted: | Aug 2, 2021 11:43 | | Subject: | Re: So confused on this VAT (lOSS) | | Viewed: | 91 times | | Topic: | Selling | |
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| In Selling, jbroman writes:
| | In Selling, gazzabrickstore writes:
| | HI All
confused on all this
im only a small ish store and don't meet this 10,000 Euro sales quota by
any means
why is Bricklink adding the VAT to my invoices that I send to European buyers
and then that money is paid to me and goes in to my account which as im aware
is illegal in the UK (after speaking to my Accountant)as your not allowed collect
VAT if you are NOT VAT registered .???
Any help understanding this would be much appreciated
Thanks
Gary
|
As BrickLink is an online marketplace they are required to collect the VAT.
You may notice on your PayPal statement their is a line for “Partner Commission”.
This is that VAT that is paid by the buyer and then forwarded to BrickLink for
them to forward it to the proper tax authority.
You do not receive the VAT yourself.
BrickLink is registered to the IOSS, has an IOSS VAT ID. You may remember they
have already messaged about it (both e-mail and on the forum:
https://www.bricklink.com/message.asp?ID=1277484
https://www.bricklink.com/message.asp?ID=1278461 ),
FAQ
https://www.bricklink.com/help.asp?helpID=2518
https://www.bricklink.com/help.asp?helpID=2517
Search this forum and you will find many more messages regarding the VAT.
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Succinctly worded and concisely framed to be helpful.
If not the OP, I'm certain others searching will find clarity on the topic
from your post.
Well done.
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| | | | | | | Author: | Funky.Figures | | Posted: | Aug 3, 2021 03:43 | | Subject: | Re: So confused on this VAT (lOSS) | | Viewed: | 75 times | | Topic: | Selling | |
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| In Selling, jbroman writes:
| | In Selling, gazzabrickstore writes:
| | HI All
confused on all this
im only a small ish store and don't meet this 10,000 Euro sales quota by
any means
why is Bricklink adding the VAT to my invoices that I send to European buyers
and then that money is paid to me and goes in to my account which as im aware
is illegal in the UK (after speaking to my Accountant)as your not allowed collect
VAT if you are NOT VAT registered .???
Any help understanding this would be much appreciated
Thanks
Gary
|
As BrickLink is an online marketplace they are required to collect the VAT.
You may notice on your PayPal statement their is a line for “Partner Commission”.
This is that VAT that is paid by the buyer and then forwarded to BrickLink for
them to forward it to the proper tax authority.
You do not receive the VAT yourself.
BrickLink is registered to the IOSS, has an IOSS VAT ID. You may remember they
have already messaged about it (both e-mail and on the forum:
https://www.bricklink.com/message.asp?ID=1277484
https://www.bricklink.com/message.asp?ID=1278461 ),
FAQ
https://www.bricklink.com/help.asp?helpID=2518
https://www.bricklink.com/help.asp?helpID=2517
Search this forum and you will find many more messages regarding the VAT.
|
BUT I have had 2 invoices where the VAT has been added I have then checked the
total with the added VAT and that total HAS been put in my account nothing has
been collected ,nothing has been taken from my PayPal account
so I HAVE received the VAT money from those orders
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| | | | | | | | | Author: | yorbrick | | Posted: | Aug 3, 2021 04:20 | | Subject: | Re: So confused on this VAT (lOSS) | | Viewed: | 53 times | | Topic: | Selling | |
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| | | BUT I have had 2 invoices where the VAT has been added I have then checked the
total with the added VAT and that total HAS been put in my account nothing has
been collected ,nothing has been taken from my PayPal account
so I HAVE received the VAT money from those orders
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That is obviously a serious error, how were they paid. Was it onsite or manual
invoice direct to your email address at paypal?
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| | | | | | | | | | | Author: | Funky.Figures | | Posted: | Aug 3, 2021 17:20 | | Subject: | Re: So confused on this VAT (lOSS) | | Viewed: | 39 times | | Topic: | Selling | |
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| In Selling, yorbrick writes:
| | | | BUT I have had 2 invoices where the VAT has been added I have then checked the
total with the added VAT and that total HAS been put in my account nothing has
been collected ,nothing has been taken from my PayPal account
so I HAVE received the VAT money from those orders
|
That is obviously a serious error, how were they paid. Was it onsite or manual
invoice direct to your email address at paypal?
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I sent the invoice as always when iv packed the order .its then paid in to PayPal
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| | | | | | | | | | | | | Author: | yorbrick | | Posted: | Aug 3, 2021 17:34 | | Subject: | Re: So confused on this VAT (lOSS) | | Viewed: | 40 times | | Topic: | Selling | |
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| In Selling, gazzabrickstore writes:
| | In Selling, yorbrick writes:
| | | | BUT I have had 2 invoices where the VAT has been added I have then checked the
total with the added VAT and that total HAS been put in my account nothing has
been collected ,nothing has been taken from my PayPal account
so I HAVE received the VAT money from those orders
|
That is obviously a serious error, how were they paid. Was it onsite or manual
invoice direct to your email address at paypal?
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I sent the invoice as always when iv packed the order .its then paid in to PayPal
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That is probably why. The buyer should have used the onsite button and not paid
you directly.
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| | | | | | | | | | | | | Author: | peregrinator | | Posted: | Aug 3, 2021 18:18 | | Subject: | Re: So confused on this VAT (lOSS) | | Viewed: | 62 times | | Topic: | Selling | |
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| In Selling, gazzabrickstore writes:
| | I sent the invoice as always when iv packed the order .its then paid in to PayPal
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Do you mean that the buyer sending payment via PayPal offsite, or using the onsite
payment button?
If the latter, then something is wrong - the VAT amount should be deducted from
your PayPal account (along with the PayPal fees on the VAT) as a "Partner fee".
If the former, then you should either (a) refund the entire payment and direct
the buyer to use the onsite payment button, or (b) at least refund the VAT amount
to the buyer, because he or she will have to pay that amount on the package when
it goes through customs.
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