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Anyone go to Stafford?

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Bryanj:
Most cards for the trader the more you do the smaller the commission but the machines are damned expensive to buy

Rozabikes Tim:

--- Quote from: SteveD CB500K0 on April 23, 2024, 02:41:34 PM ---You are correct in that transaction charges are vatable. Not an issue if you are VAT registered (as we are) but another hit if you’re not.

We never took Amex (even in the days of slide-over card impression machines) as the fees were exorbitant.


Sent from my iPhone using Tapatalk

--- End quote ---

I am definitely no accountant but... 

The total card commission over a period (net) is then +vat? They are charging Vat on a service as such.

What I mean Steve is if we take £1000, we pay card charges on all that at point of sale. Then come Vat time, we give the inland Revenue the vat content on the £1000, about £150, against which we have paid the credit card company 1-2% already. Yes we get the added vat content on that charge back but that's it. We are paying a charge against money we are simply handling for Revenue.

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