Any one heard of .....

Patreon

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A prospective new client uses Patreon to receive payments. I've never heard of it. Has anyone  else and are they OK ??

Replies (16)

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By Paul Crowley
08th Jul 2020 13:54

Is he a you tuber?

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Replying to Paul Crowley:
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By bernard michael
08th Jul 2020 14:58

Paul Crowley wrote:

Is he a you tuber?

She is !!

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Replying to bernard michael:
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By Paul Crowley
08th Jul 2020 16:16

Based on Lindybeige comments most youtubers have not a clue how the start point is calculated.
But is is a reward for what goes on public platform, and I would see it as trading, but with expenses that could be a challenge to quantify

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By frankfx
08th Jul 2020 14:02

Google

Steve Dotto.... Dotto tech

Nick Lucid... science asylum

Big users of the platform

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By WhichTyler
08th Jul 2020 14:05

Yes. And the income is taxable (trading) and Vatable (consideration for a supply)

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RLI
By lionofludesch
08th Jul 2020 14:10

Yes, I've heard of Patreon.

I don't know anyone who uses it so I couldn't give specifics of how it works.

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the sea otter
By memyself-eye
08th Jul 2020 14:57

It's a sort of voluntary subscription paid to folks on youtube who regularly put up videos on a wide variety of subjects from Military history (the history guy) or scammer baiting (Jim Browning).

Helps them with their production costs......

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Replying to memyself-eye:
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By bernard michael
08th Jul 2020 15:02

memyself-eye wrote:

It's a sort of voluntary subscription paid to folks on youtube who regularly put up videos on a wide variety of subjects from Military history (the history guy) or scammer baiting (Jim Browning).

Helps them with their production costs......

The way she tells it it is a way of being paid for her You Tube activities ( as yet not defined) and they deduct commission. I'm a bit wary as she appears to be getting a lot of money from them

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Replying to bernard michael:
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By SXGuy
08th Jul 2020 15:09

Yeah possibly because she's an attractive female and some men pay a subscription to watch her do whatever she wants.

That's usually how it goes.

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Replying to bernard michael:
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By Paul Crowley
08th Jul 2020 18:07

Post a link and we can all comment
TRUST ME this will not what is intimated at
Probably good jolly entertaining clip.

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By FayeBK
08th Jul 2020 15:18

It's a website where "customers" can pledge to pay you either a recurring monthly amount or a one-off amount to support whatever you're offering (commonly Youtubers or Podcast creators, but could be any kind of activity... music... modelling... animal rescue groups etc)

Quite often there will be milestones or incentive goals depending on how much is paid, so in the case of a Youtuber people could chose to pay a higher monthly fee and then would get, say, exclusive early access to videos before they go to the public on YT.

Patreon will deduct a fee from whatever is received, and the net figure is transferred to the Youtuber.

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By Martin B
08th Jul 2020 16:02

I think it is a name of a tower in Malasia( K Lumpa)

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Ivor Windybottom
By Ivor Windybottom
08th Jul 2020 16:19

YouTube people ask (beg?) for voluntary payments using various systems, including Patreon.

I would argue there is not a sufficiently close connection between the payment and the service to constitute a supply for VAT purposes, but for Income Tax it is probably a trading receipt as the business model often relies at least partly on these voluntary payments (along with advertising, affiliate links, etc.).

It is very similar to a busker and their hat. Except these payments are not in cash so cannot be spent on drink/drugs without creating an audit trail.

Anyone ever trying asking a busker for a receipt?

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Replying to Ivor Windybottom:
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By Bobbo
08th Jul 2020 17:35

Ivor Windybottom wrote:

I would argue there is not a sufficiently close connection between the payment and the service to constitute a supply for VAT purposes, but for Income Tax it is probably a trading receipt as the business model often relies at least partly on these voluntary payments (along with advertising, affiliate links, etc.).

When I have seen Instagram accounts inviting followers to make payments via Patreon it has been clearly stated that in exchange for the payments there is access to content they would not otherwise have access to. Those circumstances I would think do constitute a sufficiently close connection to constitute a supply. Quite what that supply is I don't know.

I would expect it comes down to the facts of each case, many receipts through Patreon are likely voluntary with no supply made whereas many will be for access to some enhanced level of content.

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By zebaa
08th Jul 2020 17:02

Just google

patreon income uk

There is loads of reading.

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By bernard michael
09th Jul 2020 09:11

Thanks everyone for your valuable input. I have decided not to take the matter further with the prospect caused by concern about the possible content (not seen).
To prove that things go full circle after many years
My first private accounting job whilst still an articled clerk was for a man who sold photographs of a woman wearing a full length raincoat standing under an umbrella.
He couldn't cope with the demand

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