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One4All - Not good for retailers

  • 06-12-2012 4:21pm
    #1
    sandin
    Closed Accounts Posts: 1,594 ✭✭✭


    I looked into taking One4All vouchers and they claim they take just 10% commission from the retailer + vat which is reclaimable.

    However if you do your math correctly - its 12.3% commission they take and therefore a very costly way of business.

    The reason why its 12.3% rather than 10% stated is they take the commission from your vat inclusive sale, so unless you are a bookshop or sell just basic foodstuffs, the chance are you have 23% vat on your goods.

    So say €100 sale
    commission to One4All = €10 + vat (this vat is recoverable)

    However your net sale is €81.30 so the €10 commission comes from this figure as the 18.70 vat on the sale is not deductable.


    This is just for a heads up should anyone be thinking of joing up.


Comments

  • #2
    Peterdalkey
    Closed Accounts Posts: 2,091 ✭✭✭Peterdalkey


    Very well spotted! They are in effect double dipping you for the VAT by taking a discount on the price including Vat then adding VAT on again on their bit. effectively you are giving a 12.3% discount not a 10% one as it appears on first glance.
    I wonder what the Revenue view on it is? Not much I would imagine, as they are are getting all their juice.

    Cheers

    Peter


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