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|06-05-2010, 02:43:35 PM||#21 (permalink)|
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I've been wondering about this for ages too. Surely at the moment you are taking 10% of the tax mans money and we are then having to top that back up out of our payment?
|06-05-2010, 03:00:20 PM||#22 (permalink)|
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Last edited by anthony; 06-05-2010 at 03:13:03 PM.
|06-05-2010, 03:18:02 PM||#23 (permalink)|
The commission invoice can be found by:
Logging into your account
The invoice is on page 2 when you enter the pdf.
If you have not listed yourself as VAT registered in your Sedo account the message will not be shown regarding VAT.
|06-05-2010, 03:46:37 PM||#24 (permalink)|
I have confirmed the following with Gmbh finance:
In the given example for zinger.co.uk both parties are based in the UK. Therefore the UK VAT regularities are valid between seller and buyer.
That's what the user described in the zinger.co.uk example.
As a German based company we cannot make sure we have knowledge of all VAT regularities around the world. But that is what we would have to do if we followed the suggestion of the user to ensure to deduct the commission from the correct net amount.
We therefore take the agreed sales price and deduct the 10% commission from it. While doing this we use the German VAT regularities to check if our commission invoice needs to be with or without tax.
|06-05-2010, 05:19:32 PM||#25 (permalink)|
"10% of sales price, min. 50€ / 35£"
Where is gross prices mentioned?
The 'sales price' to me is just that, VAT is tax on top.
Please can I have a refund of all the comission you have wrongly charged on VAT, based on your price list information.
It could be worth updating your pricelist to reflect your internally decided 'rules', and make it clear to sellers that Sedo is 17.5% more expensive to sell on for UK VAT regged sellers.
|06-05-2010, 05:46:55 PM||#26 (permalink)|
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|20-05-2010, 02:48:33 PM||#27 (permalink)|
|20-05-2010, 03:05:53 PM||#29 (permalink)|
|03-06-2010, 04:47:44 PM||#30 (permalink)|
I'm sure it has been discussed before, but how crazy is it that Sedo auctions are conducted "inclusive of VAT (if applicable)". This means I can have 2 bidders, one from the UK and one from the USA bidding the same amount for my domain and one is really going to pay (and I am really going to receive) 17.5% less than the other. Here is an example bidding sequence listing the amount they are bidding and the amount they will actually have to pay and I will actually receive:
US-guy bid 1000 actual 1000
UK-guy bid 1100 actual 936
US-guy bid 1200 actual 1200
UK-guy bid 1300 actual 1106
Nothing I can do but root for the US guy.
This is the only auction I have ever come across in any line of business where this applies. Every other auction you simply add on the appropriate VAT on top of the bid price. Why don't they just include the seller's VAT status on the auction offer page so the bidder can work out whether he needs to pay VAT (it is already available in the sellers profile presumably for exactly this reason).
There is an even worse scenario when selling to EU buyers: If they realise the situation and don't reveal their VAT registration number to you, you have to charge VAT on the transaction and hand it over to HMRC. There is no way (according to my VAT office) of finding out if a company is VAT registered, you can only check if a VAT reg number they have given you is valid. Any VAT-registered EU buyer buying from another VAT registered seller in a different EU country can therefore save themselves the VAT amount by just not revealing that they are VAT registered. This is not a made up scenario, I have had this. The buyer (of a $,$$$ domain) was marked in Sedo as VAT "not applicable" so I assumed I would be losing the VAT, but an email direct to him (as I had dealt with him previously) resulted in a Romanian VAT number and meant it was VAT free under the reversal rules.
Has anyone else had a go at Sedo on this?
PS Incidentally, someone mentioned the "tax-free extra service" on Sedo's invoice. When I quizzed them about this, they told me to refer to my accountant - mine!. In fact it turned out they had accidentally sent the invoice to my Ltd company Sedo account, rather than a non-VAT reg'd partnership account I also had. When they reissued the invoice the message was gone and the VAT was charged (at 19%!). So its just a misleading message auto-generated if you have entered a VAT number - the service is not tax-free, it is just they don't need to charge VAT if the reversal rules apply.
hit.co.uk - available for swap or decent offer
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