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 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. 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. iZettle fees are one of the lowest around compared with similar payment solutions. Your money arrives in your account in 1-2 working days. 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. 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. 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. 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. It's suitable for most types of businesses and integrates with a host of software, so you can build what works for you. 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. 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. iZettle also sells POS . 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. We will then automatically pay out all your funds in accordance with the selected intervals. 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. Ordinary card reader price 59 excl. Terminal Printer & Dock and Terminal with barcode scanner are sold separately. et Cie, S.C.A. Pricing & Fees iZettle fees are one of the lowest around compared with similar payment solutions. Choose what suits you best turn your smartphone or tablet into a POS with the Zettle Reader, add accessories and docks, or choose an all-in-one solution like the Zettle Terminal. et Cie, S.C.A. Our webshop offers POS and hardware combinations, receipt printers, barcode scanners and more. 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). We may require and/or hold a Reserve for any reason, including if you have a high rate of Chargebacks, refunds, or other indications of performance problems related to your use of 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. However I am confused by the impact of the ruling in HMRC v NEC which seems to say transaction charges are subject to VAT. you may not submit any transaction for processing which is originating from sales or activities offered by other parties, g) submit any transaction for processing that you know or should have known to be fraudulent or not authorised by the customer, h) act as a payment intermediary or aggregator or otherwise resell the Payment Service, i) submit for processing any transaction representing the refinancing of an existing obligation of a customer, j) require any customer to waive its right to dispute a transaction, k) require any customer to disclose his/her PIN at any point during a Card transaction, l) print data referencing any customer's PIN or card number on any receipt, or m) process one purchase of goods and/or services as several payment transactions. If a customers Card includes an electronic chip, you must always prioritise obtaining chip and PIN authorisation before obtaining a signature. Any closure or suspension of your Zettle Account does not relieve you of your obligations under these Payment Terms and Conditions and we may elect to continue to hold any funds deemed necessary pending resolution of any other terms or obligations defined in these Payment Terms and Conditions, including but not limited to Chargebacks, Fees, refunds, reversals, or other investigations or proceedings. By creating a Zettle Account (defined below) you accept and agree to comply with these Payment Terms and Conditions. Izettle fees. For more information, please visit our Website. 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. 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. You further agree that we may share information about a Chargeback with your customer, the customers financial institution and the Acquirer, and our other service providers in order to investigate and/or mediate a Chargeback. The cost for a wall plug is not included. 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). Do I need to charge VAT to client for Freelancer? Although, not always lower compared to many UK merchant account fees. (R.C.S. Subject to availability. If these funds are insufficient, you understand and agree that we are not obligated to process the refunds. 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). Scheme fees per transaction vary depending on: Card type (e.g. The price of hardware depends on what you need. The Zettle Gift Card Service provides you a platform where you can offer your customers gift cards to use in your physical store for your products and services and manage and administer the sale of gift cards. 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. 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. How to claim VAT on Stock Donated to charity. PayPal's fee drops to 1% after passing the 15,000/month . The Zettle Gift Card Service does not include the supply of physical cards or other value certificates. I am 99% certain Zettle (Paypal) transaction fees are exempt from VAT. Additional information about the Zettle Gift Card Service can be found on our Website. 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. 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). 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. 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. By accepting these Payment Terms and Conditions you agree that, if and to the extent that the provisions of any Services at any time is subject to any legislation in any jurisdiction implemented for purposes of transposing PSD2 (PSD Laws): the following provisions of PSD2, as transposed by any PSD Laws, shall not apply to these Payment Terms and Conditions or to the provision of the Services: (i) Articles 40 (Charges for information), 41 (Burden of proof on information requirements), 42 (Derogation from information requirements for low-value payment instruments and electronic money), 44 (Prior general information), 45 (Information and conditions), 46 (Information for the payer and payee after the initiation of a payment order), 47 (Information for payer's account servicing payment service provider in the event of a payment initiation service), 48 (Information for the payer after receipt of the payment order), 49 (Information for the payee after execution), 51 (Prior general information), 52 (Information and conditions), 53 (Accessibility of information and conditions of the framework contract), 54 (Changes in conditions of the framework contract), 55 (Termination), 56 (Information before execution of individual payment transactions), 57 (Information for the payer on individual payment transactions), 58 (Information for the payee on individual payment transactions), 59 (Currency and currency conversion), 60 (Information on additional charges or reductions), 62(1) (Charges applicable), 64(3) (Consent and withdrawal of consent), 71 (Notification and rectification of unauthorised or incorrectly executed payment transactions), 72 (Evidence on authentication and execution of payment transactions), 74 (Payer's liability for unauthorised payment transactions), 76 (Refunds for payment transactions initiated by or through a payee), 77 (Requests for refunds for payment transactions initiated by or through a payee), 80 (Irrevocability of a payment order), 89 (Payment service providers' liability for non-execution, defective or late execution of payment transactions); and 90 (Liability in the case of payment initiation services for non-execution, defective or late execution of payment transactions); and (ii) where transactions are neither euro nor pound sterling transactions, the requirements regarding execution and time-value dating set out in any PSD Laws transposition relating to Articles 83 to 85 of PSD2 will not apply to this Agreement or to the provision of such Services, to the extent permitted by applicable law. This is due to a change in the . 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. 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. 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. SumUp iZettle No monthly fees No contract . 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. We reserve the right not to authorise or process any payment transaction that you submit through the Payment Service that we believe may be in violation of the General Terms and Conditions, the Payment Terms and Conditions or any applicable laws, rules or regulations or that may expose you or us to harm, including but not limited to fraud or other criminal acts. Price includes a USB cable for charging. Others (I know) are not. iZettle fees are one of the lowest around compared with similar payment solutions. No record of the 4.55 iZettle fee as it is charged before we even see the money from this sale. Any agreement regarding custom rates are subject to a specific agreement between the parties. We may also request your permission to do a physical inspection at your place of business and to examine your books and records that pertain to your compliance with these Payment Terms and Conditions. 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 rates. Feel free to leave a reply if you have more questions about managing VAT rates, TLC1231. Is there VAT on iZettle fees? 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. The interchange fee and scheme fee may vary depending on which acquirer we use. A payment transaction using another payment method will be deemed completed when we have received the funds on our client funds account (the Client Account). We assume no liability to verify or otherwise control gift cards issued by you to customers, and you are solely responsible for providing accurate descriptions, information and content relating to gift cards issued by you under the Zettle Gift Card Service. . In addition to the fees set out in the fee schedule, we also pay fees to other parties involved in the payment flow. For the use of the Payment Service you agree to pay the fees (Fees) assessed and calculated by us in accordance with the fee schedule available either (i) on the Zettle.comWebsite if you are either a Connected Merchant or Zettle-only Merchant or (ii) on the PayPal.com Website if you are a Fully Merged Merchant. Value-added tax is typically a percentage of the sale price. Terminal pricing and fees subject to change. On my iZettle account the VAT setting ("MVA-instilling" in Norwegian) is set to 8%, but every transaction comes in as 0% VAT. - The current account bank feed will be allocated as a transfer ex Zettle control, The beauty of being taught never (ever, or else!) Pay the customer invoices in full to the iZettle account. Payments and fees. 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. You may terminate use of the Payment Service at any time. 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. The Payment Service is a payment service exempt from VAT. VAT (using VAT Margin Scheme) should be paid on 16.67% of 235.45 (sale price minus purchase price of item). * Fees are subject to change. 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? 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. Once the funds hit your bank account (after charges) treat those as a transfer from the iZettle account. You agree to assist us when requested, at your expense, to investigate any transaction processed through the Payment Service. 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. Are all the sales on that report Vatable? Deemed authorised and regulated by the Financial Conduct Authority. I note there is no VAT on iZettle charges and others who offer the same service. to aggregate multiple entries into one back in the 80's. A list of the Acquirers we co-operate with for the provisioning of the Payment Service from time to time can be found here. We may remove or add Cards that we accept at any time without prior notice to you. . You are solely liable to, and responsible for, reporting your activities to the FCA in accordance with the provisions of the PSRs or EMRs. 1 - Zettle take the full amount from the customer. 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. PayPal QR code transaction fees are the same flat rate as card transaction fees for transactions you process with your Zettle Reader or Terminal. You receive a 1% (of gross) payment fee and receive 118.80. There are no monthly fees for using iZettle. 3 - Zettle pay the net to client. 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). Each monthly VAT invoice contains a summary of VAT-eligible fees (in USD) deducted in the previous month. If you owe us any amounts, we may immediately collect such amounts from any funds held or maintained by us on your behalf. 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. 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. 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. The costs and fees of both compare well. A bill is pushed with a single line item with the expense account set to the Invoice fees account. A step by step guide to starting your own practice. 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. If we require a personal guarantee, bank guarantee or other form of security we will specifically inform you. 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). 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. We've 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. You are solely responsible for accepting and processing returns of your products or services. You may not redeem a previously issued gift card with another gift card. Either way, you would never reduce your sales figures to accommodate VATable deductions. Find general information on reports in this article, or read more about understanding your fees in our article about transaction reports and fee schedules. VAT Help Documents You agree that we have the right, in our sole discretion, to determine whether or not you are eligible for access to and use of the Payment Service. It is your responsibility to inform your customer that you will use the App to send them a receipt via email or SMS before doing so. After designating a Bank Account, you authorise and instruct us to initiate payment of funds credited to your Zettle Account to your Bank Account. If you use only the Payment Service and do not have a PayPal Account, you have a stand-alone Zettle Account ("Zettle-only Merchant"). Subject to availability. VAT on this is 20. 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). 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. All the products the client sells are VATable. You may not use the Payment Service to carry out Card transactions with your own Cards or any Cards that are issued in your name. So lets say gross sale by the client to his customer is 120. 10 . 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). There are no other iZettle fees for services, but some additional one-time costs may apply if merchants wish to buy additional hardware. Pricing for Zettle is clear and concise with no hidden fees to worry about either (Image credit: iZettle) Features Select Bank Deposit. In addition to what is set out in section 15 of the General Terms and Conditions, you are responsible for all Chargebacks, reversals, refunds, fees, fines, penalties and other liabilities incurred by a third party or us caused by your access to and use of the Payment Service and/or arising from any breach by you of any provision of these Payment Terms and Conditions. We reserve the right to amend our Fees at any time in accordance with section 23 of the General Terms and Conditions. If you are a Connected Merchant, funds from a payment transaction will be credited to your Zettle Account and then paid out to your PayPal Account daily. You authorise our Acquirers and us to, from time to time, retrieve information about you from, and provide information about you to, third parties, including credit reporting agencies or bureaus and other information providers, and you authorise and instruct such third parties to compile and provide such information to us. 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. 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. We reserve the right to suspend your access to and use of the Payment Service and to terminate and close your Zettle Account and your PayPal Account if we determine that you are no longer eligible for access to and use of the Payment Service or if you fail to promptly comply with any requests from us in accordance with the above. You can find the agreements here. 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. Full to the fees set out in the 80 's the sale price minus purchase price of )! You process with your Zettle Reader or Terminal, bank guarantee or other form of security we will automatically... The expense account set to the invoice fees account cards or other form of security we will specifically you! Before obtaining a signature deducted in the 80 's the Financial Conduct Authority you more! 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