To access and use the Payment Service, you must create a Zettle Account as described in section 1 of the General Terms and Conditions. Stripping it down you sell an items to a customer for 100 + VAT. You are solely liable to, and responsible for, reporting your activities to the FCA in accordance with the provisions of the PSRs or EMRs. Card transactions via your online store cost 2.5% each, while . 10 . 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. My understanding from HMRC VAT Notice 701/49 Para 4.8 is that there is no VAT on these fees. 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. Essentially the VAT in your software needs to match the total VAT on the iZettle report. The PayPal Zettle app carries no monthly fees. These payment alternatives as well as the functionalities set out in section 12 may not be available in your country. There are many options, all of which are affordable as well as boasting a range of security features and abilities. You may not in any way refer to us, our Acquirers or the Card Schemes as having endorsed your products and/or services. The interchange fee and scheme fee may vary depending on which acquirer we use. 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. 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. Information about available Zettle Readers and how they can be purchased can be found on our Website. All the products the client sells are VATable. 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). In the absence of relevant Commercial Entity Agreement(s), we will not be able to accept transactions in excess of these thresholds. Payout of funds to your Designated Account is subject to certain limits as further specified on our Website. In addition to the fees set out in the fee schedule, we also pay fees to other parties involved in the payment flow. In providing the Payment Service, we will facilitate the processing of payment transactions carried out through the use of the Payment Service on your behalf, credit the funds received by us from such transactions on your Zettle Account and settle such funds (less our Fees, Chargebacks, reversals, claims and other funds owed to us or another company within the PayPal Group) to your Bank Account or PayPal Account in accordance with these Payment Terms and Conditions. Subsequently, Is SumUp better than iZettle? Either way, you would never reduce your sales figures to accommodate VATable deductions. Scheme fees per transaction vary depending on: Card type (e.g. If we believe that a Chargeback is likely with respect to any payment transaction, we may withhold the amount of the potential Chargeback from payments due to you under these Payment Terms and Conditions until such time that: a) a Chargeback is assessed due to a customers complaint, in which case we will retain the funds, b) the period of time under applicable law or regulation by which the customer may dispute the transaction has expired, or c) we determine that a Chargeback on the transaction will not occur. Any agreement regarding custom rates are subject to a specific agreement between the parties. If youre new to Zettle and your business takes over 10,000 in card payments every month, all year round, you might be interested in our custom rate plans. The interchange fee and scheme fee may vary depending on which acquirer we use. 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. 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 agree to reimburse such third party or us for any and all such liability. We reserve the right to amend these Payment Terms and Conditions in accordance with section 23 of the General Terms and Conditions, or a shorter time if so required by the Card Schemes or a Third Party Payment Provider, as necessary to comply with the Card Scheme Rules or otherwise address changes in the Payment Service. 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. Check it out here. Through the Zettle Account settings, you may select the frequency of the payout of funds to your Designated Account. 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. Full refunds must be for the exact amount of the original transaction including tax and handling charges. 3 - Zettle pay the net to 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. We may remove or add Cards that we accept at any time without prior notice to you. The costs and fees of both compare well. VAT (using VAT Margin Scheme) should be paid on 16.67% of 235.45 (sale price minus purchase price of item). Also, when I reconcile iZettle payments into the account there doesn't appear to be an option to recognise VAT. 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). However, the laws and regulations in the UK may change at any time and you are at any given time solely responsible to make an assessment of applicable laws and regulations and determine whether or not your use of the Zettle Gift Card Service requires authorisation from the FCA or not. Information at my.zettle.com You will be provided information about the costs associated with each card transaction at my.zettle.com. . Price includes a USB cable for charging. 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. Price includes a USB cable for charging and wall plug. No contracts or hidden costs. It is based on your transaction volume during one calendar month and is charged as a % of the transaction amount. I am 99% certain Zettle (Paypal) transaction fees are exempt from VAT. Deemed authorised and regulated by the Financial Conduct Authority. Zettle Dock and Reader are sold separately. There are three types of fees set out in the fee schedule. If your annual Card transaction volume exceeds the amount specified by the Card Schemes Rules, you will need to enter into additional agreements directly with our Acquirers (Commercial Entity Agreements). Subject to availability in your country, if you are a Full Merged Merchant, you may also use the Payment Service to process transactions where neither the customer nor the Card are present at the time of transaction and you manually key in the card number, expiration date, security code, and other required information via the App (Manual Card Entry). How much do iZettle charge per transaction? How to claim VAT on Stock Donated to charity. So lets say gross sale by the client to his customer is 120. 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. Invoice fees are pushed in a similar way to standard Zettle card fees (see "Fees" above). Feel free to leave a reply if you have more questions about managing VAT rates, TLC1231. You must provide customers with a receipt if they request one. (R.C.S. that makes it impossible to receive electronic messages, and g) providing sufficient support, in the event such is required, to your customer concerning the invoices issued through the use of the Invoicing Service, about the products and/or services or equivalent provided by you, or in relation to other questions or circumstances that we are not responsible for. Is there VAT on iZettle fees? A list of the Acquirers we co-operate with for the provisioning of the Payment Service from time to time can be found here. You agree to assist us when requested, at your expense, to investigate any transaction processed through the Payment Service. The Payment Service is a payment service exempt from VAT. I'm still confused by the rules with regard to VAT on IZettle fees. We charge a blended merchant service charge, which means that we charge the same fee for all card brands and types. Terminal pricing and fees subject to change. If you owe us any amounts, we may immediately collect such amounts from any funds held or maintained by us on your behalf. to aggregate multiple entries into one back in the 80's. 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. 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. 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. 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 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. 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. It's suitable for most types of businesses and integrates with a host of software, so you can build what works for you. In addition to the fees set out in the fee schedule, we also pay fees to other parties involved in the payment flow. We may add, delete and amend certain payment methods at any time and the Card Scheme Rules and the Specific Terms may also be amended from time to time in accordance with the relevant terms and conditions. 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. Entries will be created on a daily basis and split by transaction type and VAT rating, making it easier to comply with cash accounting requirements and saving you time on . You acknowledge that your failure to assist us in a timely manner when investigating a transaction, including providing necessary information and documentation within ten days of our request, may result in an irreversible Chargeback. 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. When you log into your Zettle Account, you see the balance of your Zettle Account. Where VATable deductions are made from payments received, that VAT would be an input! 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. 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). I note there is no VAT on iZettle charges and others who offer the same service. You have a sale of 100 + VAT and a 'purchase' (for want of a better word) of 1 + VAT. Now, let's deposit the payments including the fees. A step by step guide to starting your own practice. I have a deli and some items are zero rated; whilst we charge VAT on other items but the iZettle . Luxembourg B 118 349), a duly licenced Luxembourg credit institution under the prudential supervision of the Luxembourg financial sector authority, the Commission de Surveillance du Secteur Financier, (we, our or us) and you, the sole trader, company or other business entity having created an account with us (the Merchant, you or your), governing your access to and use of our payment processing services provided under the Zettle by PayPal brand (together, the Payment Service). You may access your transaction information by logging into your Zettle Account. If your designated Bank Account details are incorrect or incomplete or if we for any reason cannot verify that the bank account is held in your name, we may de-connect the Bank Account from your Zettle Account, and you confirm and agree that we will not be under any obligation to pay any funds to you until such time you have provided correct and complete Bank Account information and we, as applicable, have been able to verify that you are the holder of the Bank Account. We reserve the right to amend our Fees at any time in accordance with section 23 of the General Terms and Conditions. By creating a Zettle Account (defined below) you accept and agree to comply with these Payment Terms and Conditions. You may not provide a cash refund on gift cards except to the extent required by law. *Additional terms and conditions apply. 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. Your Output VAT on a 100 sale at standard rate is 20 - end of! If we determine that you are incurring an excessive number of Chargebacks or that Chargebacks related to you are too frequent, we may establish controls or conditions governing your Zettle Account or PayPal Account, including without limitation: a) creating a reserve in an amount reasonably determined by us to cover anticipated Chargebacks and related fees, penalties or fines, b) suspending your access to and use of the Payment Service, and/or c) terminating and closing your Zettle Account or your PayPal Account. 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. The Payment Service is, in addition to these Payment Terms and Conditions and applicable laws, rules or regulations, governed by the requirements and guidelines established by our Acquirers as well as the requirements and guidelines (together, the Card Scheme Rules) established by Visa Europe Limited, MasterCard Europe S.A., American Express Limited and other applicable card schemes (together, the Card Schemes). You agree, upon our request, to take all reasonable measures to assist us in verifying your Bank Account. 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 Payment Service is a payment service exempt from VAT. You can read more about recent changes to our pricing planshere. 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 are responsible for protecting the security of Card information in our possession. 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. Ordinary card reader price 59 excl. 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 must comply with any and all instructions provided by us to you regarding the acceptance and authorisation of payment transactions, including those available on our Website. Izettle fees. While iZettle doesn't publish the actual breakpoints, they do have a calculator on their website, which allows you to calculate the exact transaction fee for any monthly card turnover. The nature and extent of consumer protections may differ from those for firms based in the UK. If you have taken up a loan from, or utilized any other form of financing arrangement offered by any other company within the PayPal Group, you acknowledge and instruct us that any sums due (or otherwise agreed to be paid) in respect of such loan or financing may be collected, deducted and subsequently remitted to the relevant lender or financing provider (or its respective account bank or other service provider) on your behalf from your transaction proceeds or any other funds held or maintained by us on your behalf until such time the amount owed by you under such loan or financing arrangement has been repaid in full. The price of hardware depends on what you need. Once there, click on the month to get an invoice for that period. 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. We will start to charge VAT on all of our fees from 1 September 2020 regardless of your VAT status. You use and access the Payment Service and your Zettle Account with your PayPal Account login credentials. 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. Enter the invoice payment details. 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. The refund amount may not exceed the original sale amount except by an amount equal to any reimbursements to the customer for postage costs incurred for product returns. 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. You confirm and agree that we may require you to allow us, or a third party designated by us, to conduct an audit of your business and facilities in order to ensure your compliance with these Payment Terms and Conditions and the Card Scheme Rules. You agree that you will not provide any false or misleading descriptions of any payment transaction that you submit through the Payment Service and that the descriptions given within itemised transactions will be an accurate and true description of the products and/or services being purchased. 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. A step by step guide to starting your own practice. If the error results in your receipt of more than the amount to which you were entitled, we will debit the extra funds from your Zettle Account or PayPal Account. 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. Subject to availability. consumer card or commercial card). et Cie, S.C.A. 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 fee you pay to us is not affected by any of these fees. Deemed authorised and regulated by the Financial Conduct Authority. We reserve the right, upon notice to you, to charge a fee for mediating and/or investigating Chargeback disputes. The Zettle app is free to download. Zettle Go is our free point-of-sale app - flexible and easy for any business. 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) 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. 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. As at the date of your acceptance of these Payment Terms and Conditions, you will fall under one of the categories of Merchants set out in subsections (a) to (c) below. Previous iZettle Price Structure 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. Your money arrives in your account in 1-2 working days. 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 not permitted to process Manual Card Entry transactions when your customers Card is present. Its suitable for most types of businesses and integrates with a host of software, so you can build what works for you. You may use the Payment Service to process contactless transactions (i.e. If we do process such refunds and it results in a negative balance on your PayPal Account, you agree to pay all funds owed to us immediately on demand and any applicable process described in the PayPal User Agreement may be enacted. 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. Zettle Go is our free point-of-sale app flexible and easy for any business. iZettle fees are one of the lowest around compared with similar payment solutions. You receive a 1% (of gross) payment fee and receive 118.80. If a customers Card includes an electronic chip, you must always prioritise obtaining chip and PIN authorisation before obtaining a signature. You agree that we will determine the extent of such guarantees or other security. Your use of the Zettle Gift Card Service may mean that you are: a) issuing electronic money in the United Kingdom, which may require you to be authorised by, or registered with, the Financial Conduct Authority (FCA) as an electronic money institution (EMI) pursuant to the Electronic Money Regulations 2011 (EMRs); and/or b) providing payment services in the UK, which may require you to be authorised by, or registered with, the FCA as an EMI pursuant to the EMRs, with permission to carry out payment services; or as a payment institution (PI) pursuant to the Payment Services 2017 (PSRs). The download link will appear above the breakdown of your activity for the month. 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. Full refunds must be for the month to get an invoice for period! 701/49 Para 4.8 is that there is no VAT on all of our from... 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