09-30-2009, 02:11 AM
Have a bit of a question
Background info we are an affiliate marketing company, we distrubute payments to people, when we send the affiliates a payment through say wire transfer we get charged £17, so what we do is charge them a £20 wire fee to cover our costs on the wire fee!
Question Where do we stand in regards to VAT on the £20 we charge them. we make about £3 on the transaction. Someone said we should charge vat on the fee for accounting purposes but i think its just a recharge of a cost.
Any idea's people
(sorry if i sound a bit thick but this is above me)
Background info we are an affiliate marketing company, we distrubute payments to people, when we send the affiliates a payment through say wire transfer we get charged £17, so what we do is charge them a £20 wire fee to cover our costs on the wire fee!
Question Where do we stand in regards to VAT on the £20 we charge them. we make about £3 on the transaction. Someone said we should charge vat on the fee for accounting purposes but i think its just a recharge of a cost.
Any idea's people
(sorry if i sound a bit thick but this is above me)
