Disclosed Agent Questions & Accountancy

Disclosed Agent Questions & Accountancy

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Hi All,

I am opening a website for booking courses (leisure/adventure courses) online, all course providers will be named on the site. There will be many course providers - internationally-based - they will include their own sales tax according to their country.

1) Is using their own sales tax (if applicable) correct?  Or, does the sales tax applied need to be the country of the customers origin? If so, this seems almost impossible to apply on an individual basis, as customers will potentially come from all over the planet...as long as they speak/understand english well enough to use the site.  I am taking the payment online, does this mean that I need to also pay the sales tax, or just make sure that I am covered by taking it....?

2) Although I am acting as an agent, I will be stating this throughout my site and therefore, am not 'undisclosed' as such...is this still the correct Tax position for me? Sorry - looks like I am a disclosed agent, as I name all course providers...Am I paying tax on my income only following this...?  

3) Invoicing - do I invoice the course providers with the commission due to me?  Or, do we invoice each other....

4) Does anyone know of good accounting software that you can import/integrate moneybookers/skrill and paypal data into it?

Apologies if these seem like silly questions, but the more I read the more confused I become....I will be getting an Accountant shortly, but would appreciate the advice before this!

Thanks!

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By david5541
08th Nov 2011 11:07

1) Is using their own sales tax (if applicable) correct?  Or, does the sales tax applied need to be the country of the customers origin? If so, this seems almost impossible to apply on an individual basis, as customers will potentially come from all over the planet...as long as they speak/understand english well enough to use the site.  I am taking the payment online, does this mean that I need to also pay the sales tax, or just make sure that I am covered by taking it....? 

If bookings are online and the customer is overseas:

vat is charged on the online booking in that country at the country rate

you need to latch in to a booking system such as paypal that sorts your vat in that country whereby payment and booking go together.

any payments for local facilities in that country will then be vat relievable

alternernatively you could only accept EU customers so you can dispense with accounting for vat overseas:

Give the eu customer your uk vat nuber and incorporate.

 

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By david5541
08th Nov 2011 11:11

2) Although I am acting as an agent, I will be stating this throughout my site and therefore, am not 'undisclosed' as such...is this still the correct

agents charge agency % or volume fees

Tax position for me? Sorry - looks like I am a disclosed agent, as I name all course providers...Am I paying tax on my income only following this?.

you pay tax on the fees you collect as agent less expenses (just like estate agents)   but now some estate agents pay tax on the premiumbbb

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By david5541
08th Nov 2011 11:17

3) Invoicing - do I invoice the course providers with the commission due to me?  Or, do we invoice each other.... 

depends on your agreement

if they want the booking and you completed the booking for them you invoice the course provider +vat(if uk based).

If you sold the course and the customer has agreed to pay a %age of the course fee then you invoice the customer a %age

 

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avatar
By david5541
08th Nov 2011 11:19

4) Does anyone know of good accounting software that you can import/integrate moneybookers/skrill and paypal data into it?

Apologies if these seem like silly questions, but the more I read the more confused I become....I will be getting an Accountant shortly, but would appreciate the advice before this!

Thanks 

start with excell

then work up from there when you get volumn.

come to me as your accountant please

[email protected]

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