You must provide customers with a receipt if they request one. We are responsible for protecting the security of Card information in our possession. Deemed authorised and regulated by the Financial Conduct Authority. The Zettle app is free to download. Internet connection and data usage For Zettle to work, you need to be connected to a 3G, 4G or wifi network. et Cie, S.C.A. 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. 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"). 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. So my client receives 10,000 from I Zettle into her bank account in January and there are fees of 175 shown as deducted by IZettle. For any payment transaction we determine may result in a Chargeback, we have the right to withhold the potential amount of the Chargeback in a reserve. consumer card or commercial card). You acknowledge that we must fulfil the obligations related to such listing and reporting, and you waive and agree to hold us harmless from all claims and liabilities you may have as a result of such listing and reporting. You can read more about recent changes to our pricing planshere. . No record of the 4.55 iZettle fee as it is charged before we even see the money from this sale. 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. Card transactions via your online store cost 2.5% each, while . Offering the essentials you need to start selling, the Zettle app turns your iOS or Android smartphone or tablet into a point-of-sale system that facilitates card and contactless, cash and other payment methods. If we do process such refunds and it results in a negative balance to your Zettle Account, you agree to pay all funds owed to us immediately on demand. If an authorised payment transaction is not executed properly or not executed at all, we will, upon your request, use reasonable endeavours to trace the transaction and attempt to rectify any errors that you or we discover and notify you of the result. Any agreement regarding custom rates are subject to a specific agreement between the parties. 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. 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). 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 receive a 1% (of gross) payment fee and receive 118.80. Your Output VAT on a 100 sale at standard rate is 20 - end of! The Invoicing Service enables you, when your customer chooses to pay by invoice, independently to collect information concerning your customers and to subsequently store and process such information about your customer to the extent necessary for you to issue, manage and administer invoices through the use of the Invoicing Service (Customer Information). 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). 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. 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. Check out our price list below to find the perfect complement to your business, or get in touch to find out about our special custom ratesnote 1. Interchange fees per transaction vary depending on: This is the fee we pay to the card schemes (Visa and MasterCard) when they process your transactions. You may only use the Invoicing Service in order to issue, manage and administer invoices in accordance with these Payment Terms and Conditions. Subject to availability. 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. The interchange fee and scheme fee may vary depending on which acquirer we use. et Cie, S.C.A. You may use the Payment Service to process card-present transactions (i.e. The Zettle reader makes it easy to start taking card payments and its charges are among the lowest in the industry. In addition to what is stated in section 22 of the General Terms and Conditions, we may terminate these Payment Terms and Conditions or your use of all or part of the Payment Services or suspend or close your Zettle Account or PayPal Account, without prior notice to you: a) upon request of a Card Scheme, an Acquirer, or a service provider, b) if our agreement with an Acquirer or Card Scheme expires or terminates for any reason, c) if we are de-registered as a payment facilitator by a Card Scheme, an Acquirer, or a service provider, d) if in our reasonable opinion, your activities or actions are damaging to, or may damage, our image or reputation or the image or reputation of a Card Scheme, an Acquirer, or service provider, e) if you have signed up for the Payment Service as a company or other business entity and there is a change of control of such company or other business entity, f) if owners or other persons associated with you appear on European or American sanction lists (such as OFACs SDN list and the EUs list of economic sanctions or list of terrorists), or g) if your Designated Account is your PayPal Account and your PayPal Account is closed down, either by us or by you. 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. You agree to pay all costs and expenses, including without limitation attorneys fees and other legal expenses, incurred by or on behalf of us in connection with the collection of all balances unpaid by you. 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. All refunds and adjustments related to Card transactions must be made to the customers Card. You are solely liable to, and responsible for, reporting your activities to the FCA in accordance with the provisions of the PSRs or EMRs. 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. Click the Receive payment button. On my iZettle account the VAT setting ("MVA-instilling" in Norwegian) is set to 8%, but every transaction comes in as 0% VAT. How to claim VAT on Stock Donated to charity. My understanding from HMRC VAT Notice 701/49 Para 4.8 is that there is no VAT on these fees. 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. The cost for a wall plug is not included. Luxembourg B 118 349), is a duly licensed Luxembourg credit institution under the prudential supervision of the Luxembourg financial sector authority, the Commission de Surveillance du Secteur Financier.Copyright 2022 PayPal Inc. 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. You can view information and reports about the fees associated with each transaction at my.zettle.com. If you have signed up for a service enabling you to sell products and/or services online, and such service has the requisite integrations with our Payment Service, you may also be able to accept and process payments from your customers who will be able to pay online using a Card or such online payment method made available by us in your jurisdiction. 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. 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. Each day creates a sales invoice and expense for the fees. Refunds are free to process and you also get the transaction fee refunded. 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. You must notify us immediately through our Website or by contacting our customer success team at support.uk@zettle.com if you discover or have reason to believe that there has been an error or unauthorised or illegal use of your Zettle Account and, where possible, change your Account Credentials to prevent any further errors and/or unauthorised or illegal use. Do I need to charge VAT to client for Freelancer? You agree to assist us when requested, at your expense, to investigate any transaction processed through the Payment Service. Last update and effective as of: 7 December 2022. Check it out here. 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. You are solely responsible for accepting and processing returns of your products or services. PayPal QR codes are a safe, touch-free way for customers to pay in-store. The acquirer is the party that processes and settles the payment from your customer to Zettle. As a credit institution we facilitate the processing of payment transactions and, in order for us to do this, we have entered into agreements with acquiring banks (Acquirers). Refunds processed through the Payment Service must be submitted within thirty days of the original transaction. 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. 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. Pricing breaks down as follows: Cost of Zettle Reader: Currently 29 + VAT (Normally 59 + VAT) Transaction fees: Flat 1.75% Setup fee: 0 Price includes a USB cable for charging. You authorise us to share information with law enforcement about you, your transactions, or your use of the Payment Service if we reasonably suspect that your Zettle Account has been used for unauthorised, illegal, or criminal purposes. So lets say gross sale by the client to his customer is 120. The price of hardware depends on what you need. Such agreement is to be entered into at our sole discretion. 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? 1 - Zettle take the full amount from the customer. 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 agree to comply with any such requests without undue delay. You agree to reimburse such third party or us for any and all such liability. Notwithstanding the above or any other provision of these Payment Terms and Conditions and in addition to what is set out in section 15 of the General Terms and Conditions, you agree to defend, indemnify, and hold us, our Acquirers, the Card Schemes and each of our respective directors, agents, affiliates, service providers, and representatives harmless from and against any claim (including all third-party claims), cost, suit, demand, loss, liability, damage, action, proceeding judgment, penalty, interest and expense (including without limitation reasonable attorneys fees) arising out of or relating to: a) any actual or alleged breach by you of any provision of the Card Scheme Rules, b) any payment transaction submitted by you through the Payment Service, and c) third party indemnity obligations we incur as a direct or indirect result of your acts or omissions (including indemnification of any Acquirer, service provider, or Card Scheme). 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. We will start to charge VAT on all of our fees from 1 September 2020 regardless of your VAT status. All the products the client sells are VATable. A list of the Acquirers we co-operate with for the provisioning of the Payment Service from time to time can be found here. The Payment Service will enable you to accept and process payments from your customers (i) by Card or their smartphone, tablet or other compatible mobile device enabling them to take contactless smartphone/device transactions through the use of the App installed a) on your smartphone, tablet or other compatible mobile device connected to your Zettle Reader, b) on a compatible mobile device enabling you to take contactless payments directly in the App (the Tap on Phone Service), or c) directly on a Zettle Reader enabling you to take contactless payments, (ii) when your customers pay an invoice online using a Card or any other online payment method made available by us in your jurisdiction (the Invoicing Service), (iii) when your customers pay for your products and/or services through a payment link provided to your customer by email, text message or similar communication tool, and (iv) by redeeming gift cards issued by you using our gift card service (the Zettle Gift Card Service). 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