NEW - Choose your preferred currency for buying and selling domains.

sedo · 10-05-2011, 09:33:08 AM

Further to client feedback, Sedo is now offering our UK-registered clients more flexibility through currency choice. You can now select your preferred currency by choosing either British Pounds (GBP), Euros (EUR) or US Dollars (USD) to make buying and selling domains at Sedo easier.

You can apply your choice of currency to each individual transaction through your Sedo account. This feature is currently only available for domain sales/purchases. Parking payments will remain in Euros.

Edwin · 10-05-2011, 10:15:20 AM

Will the currency be preserved throughout the whole process?

For example, if I specify my currency as GBP and then sell a domain name for �1,000 will I receive exactly �900 after the 10% commission has been taken off? And will that �900 be sent in GBP to my bank account?

rob · 10-05-2011, 10:22:39 AM

Good question!

Historically (2006-2007ish) sedo worked on the 1 : 1 exchange rate for USD$ and GBP�

sedo · 11-05-2011, 07:29:05 AM

Yes Edwin

That is how it works.

rob · 11-05-2011, 07:54:52 AM

In Edwins model if he charges VAT do you take 10% of the VAT as comission as well?

ie. �833.33 + vat = 1000

Does SEDO take 100 or 83 comission?

Edwin · 11-05-2011, 08:19:49 AM

Quote:

Originally Posted by rob

In Edwins model if he charges VAT do you take 10% of the VAT as comission as well?

ie. �833.33 + vat = 1000

Does SEDO take 100 or 83 comission?

Surely they shouldn't take commission on VAT, as that's passed directly on to HMRC and doesn't benefit the seller? But maybe "surely" doesn't necessarily apply!

rob · 11-05-2011, 08:57:01 AM

Easy question and am sure SEDO can reply with ease....

doodlebug · 11-05-2011, 08:57:54 AM

Sedo should take �83 and give the �17 difference to Edwin as he is responsible for paying the V.A.T

How does it work anyway if you consider that Sedo is in Germany and eg, the buyer is in the USA,is V.A.T based on the country where seller resides ?

sedo · 11-05-2011, 09:20:06 AM

Answers to VAT related questions can be found in our FAQs on www.sedo.co.uk
If you don�t find an answer to your specific question please ask your tax consultant

Edwin · 11-05-2011, 09:39:10 AM

There are a few VAT related answers in the FAQ. I've linked to them below to save you having to hunt and poke around the site for them (since it doesn't look like you're going to get a straight answer)...
http://sedo-int1.custhelp.com/app/an...a_id/97/kw/vat

http://sedo-int1.custhelp.com/app/an...a_id/44/kw/vat

http://sedo-int1.custhelp.com/app/an...id/2087/kw/vat

Probably the most relevant is this:
"Please note that all offer/counter-offer prices and auction prices are inclusive of VAT (if applicable). No additional taxes and/or VAT will be added to the final price on completion of negotiation."
but also
"If you are trading on Sedo as a VAT-liable company, you need to specify that you are trading as a company in the "My Account" section of your Sedo account and enter a valid tax registration number. If you are trading as an individual, this is not required."

In other words, even though Sedo know which businesses are VAT registered (since there is functionality to state this within the interface and specify the VAT number, and an explicit requirement to do so) they will continue to help themselves to comission on the VAT as well by carefully blurring the issue!

10-05-2011, 09:33:08 AM	#1 (permalink)
sedo Sedo Staff Join Date: Aug 2005 Location: High Holborn, London, UK Posts: 1,060 No Classified Ratings Domain Trader Rating: (100% / 1)	NEW - Choose your preferred currency for buying and selling domains. Further to client feedback, Sedo is now offering our UK-registered clients more flexibility through currency choice. You can now select your preferred currency by choosing either British Pounds (GBP), Euros (EUR) or US Dollars (USD) to make buying and selling domains at Sedo easier. You can apply your choice of currency to each individual transaction through your Sedo account. This feature is currently only available for domain sales/purchases. Parking payments will remain in Euros. __________________ http://www.sedo.co.uk joanna.birch@sedo.com

10-05-2011, 10:15:20 AM	#2 (permalink)
Edwin Join Date: Apr 2005 Location: Cambridge, UK Posts: 4,165 No Classified Ratings Domain Trader Rating: (100% / 46)	Will the currency be preserved throughout the whole process? For example, if I specify my currency as GBP and then sell a domain name for �1,000 will I receive exactly �900 after the 10% commission has been taken off? And will that �900 be sent in GBP to my bank account? __________________ Memorable Domains Ltd - Over 7,000 descriptive, generic .co.uk domains for sale Please note: All sale prices over a week old are automatically invalid. No exceptions. Thanks!

11-05-2011, 07:29:05 AM	#4 (permalink)
sedo Sedo Staff Join Date: Aug 2005 Location: High Holborn, London, UK Posts: 1,060 No Classified Ratings Domain Trader Rating: (100% / 1)	Yes Edwin That is how it works. __________________ http://www.sedo.co.uk joanna.birch@sedo.com

11-05-2011, 07:54:52 AM	#5 (permalink)
rob Founding Member Join Date: Jan 2005 Posts: 5,978 No Classified Ratings Domain Trader Rating: (100% / 37)	In Edwins model if he charges VAT do you take 10% of the VAT as comission as well? ie. �833.33 + vat = 1000 Does SEDO take 100 or 83 comission? __________________ Eat more chips! Dont let salad win! hey. how to sell a website \| sell your website to me whats the number for milk tokens? TDA Blue Badge Wrexham News Wrexham Weather Owain Glyndwr

11-05-2011, 08:57:54 AM	#8 (permalink)
doodlebug Join Date: Mar 2007 Location: This time next year we'll be millionaires ! Posts: 4,652 No Classified Ratings Domain Trader Rating: (100% / 32)	Sedo should take �83 and give the �17 difference to Edwin as he is responsible for paying the V.A.T How does it work anyway if you consider that Sedo is in Germany and eg, the buyer is in the USA,is V.A.T based on the country where seller resides ? __________________ No links for me thanks !

10-05-2011, 10:22:39 AM	#3 (permalink)
rob Founding Member Join Date: Jan 2005 Posts: 5,978 No Classified Ratings Domain Trader Rating: (100% / 37)	Good question! Historically (2006-2007ish) sedo worked on the 1 : 1 exchange rate for USD$ and GBP�

11-05-2011, 08:57:01 AM	#7 (permalink)
rob Founding Member Join Date: Jan 2005 Posts: 5,978 No Classified Ratings Domain Trader Rating: (100% / 37)	Easy question and am sure SEDO can reply with ease....

11-05-2011, 09:20:06 AM	#9 (permalink)
sedo Sedo Staff Join Date: Aug 2005 Location: High Holborn, London, UK Posts: 1,060 No Classified Ratings Domain Trader Rating: (100% / 1)	Answers to VAT related questions can be found in our FAQs on www.sedo.co.uk If you don�t find an answer to your specific question please ask your tax consultant __________________ http://www.sedo.co.uk joanna.birch@sedo.com

11-05-2011, 09:39:10 AM	#10 (permalink)
Edwin Join Date: Apr 2005 Location: Cambridge, UK Posts: 4,165 No Classified Ratings Domain Trader Rating: (100% / 46)	There are a few VAT related answers in the FAQ. I've linked to them below to save you having to hunt and poke around the site for them (since it doesn't look like you're going to get a straight answer)... http://sedo-int1.custhelp.com/app/an...a_id/97/kw/vat http://sedo-int1.custhelp.com/app/an...a_id/44/kw/vat http://sedo-int1.custhelp.com/app/an...id/2087/kw/vat Probably the most relevant is this: "Please note that all offer/counter-offer prices and auction prices are inclusive of VAT (if applicable). No additional taxes and/or VAT will be added to the final price on completion of negotiation." but also "If you are trading on Sedo as a VAT-liable company, you need to specify that you are trading as a company in the "My Account" section of your Sedo account and enter a valid tax registration number. If you are trading as an individual, this is not required." In other words, even though Sedo know which businesses are VAT registered (since there is functionality to state this within the interface and specify the VAT number, and an explicit requirement to do so) they will continue to help themselves to comission on the VAT as well by carefully blurring the issue! __________________ Memorable Domains Ltd - Over 7,000 descriptive, generic .co.uk domains for sale Please note: All sale prices over a week old are automatically invalid. No exceptions. Thanks!

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