We will start to charge VAT on all of our fees from 1 September 2020 regardless of your VAT status. Youll be charged a fixed transaction fee, regardless of which card you process with your Zettle Reader or Terminal. 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. Accepting payments with the Zettle Go app only takes a few kilobytes of data. 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. Deemed authorised and regulated by the Financial Conduct Authority. If at the time you sign up to the Payment Service you create a Zettle Account and authorise and instruct us to merge it with your existing or new PayPal Account, you will have a fully merged PayPal Account and Zettle Account ("Fully Merged Merchant"). We will only process Card transactions that have been authorised by the applicable Card Scheme or Card issuer, as the case may be. et Cie, S.C.A. If we require a personal guarantee, bank guarantee or other form of security we will specifically inform you. Further, you agree to inform your customers about the expiration date of the issued gift card as set out on the receipt you are liable to provide in accordance with section 11. Customer Information may include e-mail address, name, address, personal identification number (or equivalent), trade name, registration number, telephone number and information concerning the purchase. 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. 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. All refunds and adjustments related to Card transactions must be made to the customers Card. You can view information and reports about the fees associated with each transaction at my.zettle.com. Zettle uses Bambora and Elavon as its acquirers in the EU. We reserve the right to amend our Fees at any time in accordance with section 23 of the General Terms and Conditions. You may use the Payment Service to process contactless transactions (i.e. These payment alternatives as well as the functionalities set out in section 12 may not be available in your country. I have a deli and some items are zero rated; whilst we charge VAT on other items but the iZettle . 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. 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. 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. A bill is pushed with a single line item with the expense account set to the Invoice fees account. that you are not deemed to be issuing electronic money under the EMRs or providing regulated payment services under the PSRs. 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"). 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. So VAT payable would be understated by 35p so an adjustment is needed, Thats my understanding of it but happy to be advised if this is not correct. As a Fully Merged Merchant you authorise and instruct us to initiate payment of all funds credited to your Zettle Account to your PayPal Account. 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. When using the Invoicing Service you agree that we are not responsible, for, will have no liability in respect of, and that you are solely responsible for a) issuing, managing and administrating the invoices generated through the use of the Invoicing Service in accordance with all applicable laws, rules and regulations and your privacy policy, b) the accuracy and completeness of your invoices, c) ensuring that your customers pay in accordance with the invoice issued through the use of the Invoicing Service, d) any payment instructions being incorrect, e) funds that, due to you providing incorrect information to us, have been transferred to a bank account that does not belong to you, and f) the recipient of the invoice having such technical installations, firewalls, domains, software etc. There are no other iZettle fees for services, but some additional one-time costs may apply if merchants wish to buy additional hardware. We will then automatically pay out all your funds in accordance with the selected intervals. 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. This authorisation and instruction will remain in full force and effect until your Zettle Account is closed or terminated. Fees will be assessed at the time a transaction is processed and will be deducted from the funds received by us and credited to your Zettle Account or PayPal Account. 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. Pricing breaks down as follows: Cost of Zettle Reader: Currently 29 + VAT (Normally 59 + VAT) Transaction fees: Flat 1.75% Setup fee: 0 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. By signing up for the Payment Service, you instruct and authorise us to perform credit checks, sanction controls and other verifications which may require that you supply such additional information and documentation as is reasonably required for us to verify your identity and fulfil all our anti-money laundering, counter terrorist financing and other regulatory obligations. If these funds are not sufficient, you understand and agree that we are not obligated to process the refunds. The Payment Service is subject to the Card Scheme Rules and may also be subject to specific terms and conditions which apply to the use of certain payment methods (Specific Terms) provided by us or a third party (a Third Party Payment Provider). This section 16 applies only if you are a Zettle-only Merchant or Connected Merchant as described in section 1 above. 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. Value-added tax is typically a percentage of the sale price. No contracts or hidden costs. VAT on this is 20. 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. I note there is no VAT on iZettle charges and others who offer the same service. PayPal's fee drops to 1% after passing the 15,000/month . Payments and 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. A step by step guide to starting your own practice. *Additional terms and conditions apply. Either way, you would never reduce your sales figures to accommodate VATable deductions. 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. Where VATable deductions are made from payments received, that VAT would be an input! Scheme fees per transaction vary depending on: Card type (e.g. 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. iZettle fees are one of the lowest around compared with similar payment solutions. Ordinary card reader price 59 excl. et Cie, S.C.A. transactions where both the Card and the customer are present at the time of the transaction) by inserting the Card into the Zettle Reader or swiping the Card and obtaining the customers PIN or obtaining the customers signature. iZettle also sells POS . For each sale, there will be a receipt and two payments. Last update and effective as of: 1 July 2021. 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. To access and use the Payment Service, you must create a Zettle Account as described in section 1 of the General Terms and Conditions. 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. There are three types of fees set out in the fee schedule. Full refunds must be for the exact amount of the original transaction including tax and handling charges. 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. You need a Zettle control account in the software. 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. Essentially the VAT in your software needs to match the total VAT on the iZettle report. 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. Here's how: Open the invoice. 3 - Zettle pay the net to client. Zettle Dock and Reader are sold separately. Subject to availability. How much do iZettle charge per transaction? 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. If any of the goods or services that you supply are VAT exempt or you are underneath the VAT threshold then you won't be able to reclaim the cost of VAT. (R.C.S. 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. Terms and Conditions for Zettle Pro. Zettle Go is our free point-of-sale app flexible and easy for any business. I note there is no VAT on iZettle charges and others who offer the same service. Our bank account shows 255.45 received. Now, let's deposit the payments including the fees. Price includes a USB cable for charging. There are specific Fees associated with processing Manual Card Entry transactions, as set forth on the PayPal.com Website. 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. 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. 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. 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). 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. In addition to the fees set out in the fee schedule, we also pay fees to other parties involved in the payment flow. We will provide you with information regarding payment transactions with a reference enabling you to identify the transaction, the amount of the transaction in the currency in which your Zettle Account is credited and the amount of the Fee for the transaction. 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. Furthermore, we will not be responsible or liable for any funds that, due to incorrect or incomplete Bank Account information provided by you, have been paid to a bank account that is not held in your name. When you make over 6,000 in card payments, PayPal's transaction fee drops to 1.50%, beating iZettle. 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. transactions made using the contactless induction technology in a Zettle Reader or a compatible mobile device supporting contactless transactions made by Card or smartphone/device transaction using near field communication technology or QR codes), however you may not process a contactless transaction with a value exceeding the prevailing amount limit for that transaction set by an Acquirer, a Card Scheme and/or us from time to time, as set out on our Website. 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. The Zettle Gift Card Service is integrated into your Zettle Account and enables you to sell, track and redeem gift cards in your physical store. 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. You authorise and instruct us to receive, hold and disburse funds in accordance with these Payment Terms and Conditions on your behalf. Prior to November 2018, fees on the invoices were based in United States Dollar (USD). It is based on your transaction volume during one calendar month and is charged as a % of the transaction amount. You are solely responsible for accepting and processing returns of your products or services. iZettle's fees range from 2.75 percent for monthly card turnovers below 2,015 down to just 1 percent for monthly card turnovers above 39,693. Additional information about the Zettle Gift Card Service can be found on our Website. You agree that you will comply with the Card Scheme Rules and the Specific Terms and that the Card Scheme Rules and the Specific Terms have precedence over these Payment Terms and Conditions with regards to the relevant payment method and that, in case of any conflict between a provision in these Payment Terms and Conditions and the Card Scheme Rules/the Specific Terms, the following order of priority will apply: (i) the Card Scheme Rules, (ii) the Specific Terms and (iii) the Payment Terms and Conditions. The PayPal Zettle app carries no monthly fees. The nature and extent of consumer protections may differ from those for firms based in the UK. Pricing & Fees iZettle fees are one of the lowest around compared with similar payment solutions. Refunds processed through the Payment Service must be submitted within thirty days of the original transaction. 1 - Zettle take the full amount from the customer. 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. VAT Exceptions and Reports; Edit VAT Settings, Codes and Rates; Submit a VAT Return in QuickBooks Online . 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 undertake to inform your customers of the possibility to pay by Card by displaying signage for all Card options provided by us as possible payment methods in your physical store or online. . to aggregate multiple entries into one back in the 80's. 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. All Zettle hardware is a one-off purchase with no recurring fees, and our POS app is free to use, so you only pay for the transactions you process. Do I need to charge VAT to client for Freelancer? 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 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. - Your client then pays x in fees (VAT position on fee TDB here). You agree, upon our request, to take all reasonable measures to assist us in verifying your Bank Account. To use the Payment Service for sales from a physical sales location, you must download and install the App and, unless you are solely using the Tap on Phone Service, obtain one of our compatible card reader devices (Zettle Reader). You agree to comply with any such requests without undue delay. 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). 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). 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. However IZettle pay the client 120 less 1.75% ie 117.90. For VAT purposes, during the term of the swap there is a continuous supply of services and, to the extent that any money changes hands, there is an exempt supply under the VAT Act, Schedule 9 . This fee is the only fee for transactions that you pay to Zettle. You must provide us all information and documentation in your possession as to the circumstances of any such error and/or unauthorised or illegal use of your Zettle Account and take all reasonable steps requested by us to assist in our investigation. In addition to what is set out in section 10 of the General Terms and Conditions, you agree that we may from time to time be required to report to revenue or tax authorities, as required by law, your name, address and information regarding transactions processed by us on your behalf through your use of the Payment Service. Invoice fees are pushed in a similar way to standard Zettle card fees (see "Fees" above). Fees will be assessed at the time a transaction is processed and will be deducted from the funds received by us and credited to your Zettle Account or PayPal Account. You agree that we will determine the extent of such guarantees or other security. The download link will appear above the breakdown of your activity for the month. 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. 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. 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. My understanding from HMRC VAT Notice 701/49 Para 4.8 is that there is no VAT on these fees. So lets say gross sale by the client to his customer is 120. 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. The Zettle Gift Card Service does not include the supply of physical cards or other value certificates. 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. Further, you may not issue more than 5,000 GBP in gift cards to any single person in any one day. You authorise us to direct questions to and obtain information from the relevant bank, including for the purpose of verifying your designated Bank Account. 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. Your Output VAT on a 100 sale at standard rate is 20 - end of! The E-commerce subscription costs 29 + VAT a month, which includes all ecommerce tools, online payment system and integration with other iZettle tools.. Apart from the monthly fee, you only pay a 2.5% transaction fee for all online Mastercard, Visa and Amex transactions. 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. These payment terms and conditions, including the terms, policies, guidelines and instructions referred to herein, (Payment Terms and Conditions) and the general terms and conditions governing your access to our services (General Terms and Conditions) constitute a legal agreement between PayPal (Europe) S. r.l. Download Zettle's POS app iZettle Card Reader 2 59 +VAT: Uses the iZettle Card Reader 59: 49 or 249: 19: 69 or . We are responsible for protecting the security of Card information in our possession. There is no lock-in contract, so you can cancel any time at no extra cost. 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. Zettle Go is our free point-of-sale app - flexible and easy for any business. The interchange fee and scheme fee may vary depending on which acquirer we use. 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). We will not be responsible or liable for the ultimate credit of funds to your Bank Account once we have instructed payment to your Bank Account. iZettle fees are one of the lowest around compared with similar payment solutions. I'm still confused by the rules with regard to VAT on IZettle fees. (R.C.S. Once the funds hit your bank account (after charges) treat those as a transfer from the iZettle account. Once we have verified your Designated Account (if applicable), we will take commercially reasonable efforts to initiate payout of funds (less our Fees, Chargebacks, reserve, refunds, reversals, claims and other funds owed to us) to your Designated Account on the business day immediately following the business day on which we received the funds on the Client Account, unless otherwise set out in these Payment Terms and Conditions. Is there VAT on iZettle fees? Pay the customer invoices in full to the iZettle account. A step by step guide to starting your own practice. - The current account bank feed will be allocated as a transfer ex Zettle control, The beauty of being taught never (ever, or else!) 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. 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