How does Paid treat VAT?

VAT treatment and process

When you register on the Paid platform as a service provider, you will be asked to confirm whether or not you are registered for VAT.

When you are VAT registered, we will issue the invoice for you with added VAT.
For example, if your project costs £1000 ex vat, when the work is completed, Paid will issue the invoice to the client for £1,200.

Our 7.5% fee (known as a discount) is netted off the gross amount, so if you choose to use our instant payment service, you will receive £1,110 as soon as your client confirms the project is complete.

For each project you will be sent a statement with a full breakdown and you can also download the invoice from the Income section.