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+--- Thread: VAT (/showthread.php?tid=11961)
VAT - FeistyExoticHollyUK - 26-10-2020
This is the first time I've posted anything so hi!
I've been camming since March this year and was originally with London sapphires when I started now independent for a month.
I've seen the email going around about VAT starting on the 1st November and was wondering does anyone know how much more we will be charged in fees and is it worth me joining a group that is VAT registered so not to pay it or just stick to being independent?
If I had to join a group to save money I will but I don't want to pay ridiculous group fees xx
RE: VAT - admin - 26-10-2020
Hi, the fee is 6%, as London Gems and London Sapphires charge 50% in total anyone joining those particular groups will be losing a large amount, no matter what their instagram and twitter say. (they are known scammers and glad you made your way out of the group).
At this moment in time its best to wait to see how things go, there is no rush.
Some things are in the works behind the scenes to stop members paying VAT on the admin fee but these are yet to be confirmed.
Dont take any rash decisions.
RE: VAT - Strawberryblonde - 26-10-2020
(26-10-2020, 20:12)admin Wrote: Hi, the fee is 6%, as London Gems and London Sapphires charge 50% in total anyone joining those particular groups will be losing a large amount, no matter what their instagram and twitter say. (they are known scammers and glad you made your way out of the group).
At this moment in time its best to wait to see how things go, there is no rush.
Some things are in the works behind the scenes to stop members paying VAT on the admin fee but these are yet to be confirmed.
Dont take any rash decisions.
This would be very helpful.
Problem is VAT on the fees, plus advertising, facilities then the admin fee for cash in is just a huge whammy. Service providers face either pricing out, or if they reduce their prices to absorb the cost for customers, then have a double whammy on cash out.