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Hi,
Wondering if anyone has dealt with something similar and could help.
We will be collecting payment for ticket sales for a German based company and then repaying them the value (almost as an agent), we will be charging commission of £3 per ticket sale.
Will we be liable for the whole amount or only the commission?
Just looking for the best way to deal with this.
Thanks 🙂
#Hi Laura
As long as you are an agent, your income is only £3.00 therefore you account for the same amount.
The reason I say you being agent, you collect the amount on principles behalf, if need, you issue receipt from your principle I. E. Your name or company does not appear in the receipt.
If the ticket is £20.00, the receipt needs to be £23.00, you keep £3.00 and forward £20.00 to principle.
If there need a refund to make, the principle pays £23.00 depending on your agreement but there is nothing stopping you to refund £3.00 and your revenue will be reduced by £3.00.
Hope this helps
San
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