Accounting

FISCAL

As the event planner (supplier), you sell tickets to Weezevent (distributor) who then resells them to attendees (buyers).

ACCOUNTING MECANISM IF YOUR ENTITY IS SUBJECT TO VAT

1 – As the Event planner, you set an amount for each type of ticket you wish to sell in the Weezevent online interface. e.g.: £50.00

2 – The amount is the price incl. tax which will be paid by the end buyer via your ticketing plug-in. The WEEZEVENT commission (which fluctuates based on the VAT rate of the event) is included in that price. e.g.: £50.00 incl. tax

3 – At the time of purchase, if that option has been previously activated by you, the buyer can ask for an invoice which they will receive by email. The invoice is issued by the Distributor (Weezevent) to the recipient, the Buyer. This invoice will display the VAT rate that the Planner will have selected in the interface (i.e. 20%, 10%, 5.5%, 2.1%, exemption). Note: the Buyer can also ask for this accounting document later, in which case the Planner can send it directly through the interface (in “Manage attendees”). e.g.: 20% VAT rate e.g.: £41.67 excl. tax + £8.33 VAT = £50.00 incl. tax

4 – Twice monthly (on the 1st and 16 of each month), Weezevent redistributes their earnings of the previous 15 days to the event Planner (i.e. earnings of the 1 to 15 or of the 16 to 30/31st of the month). The amount redistributed is the price paid by the buyer minus Weezevent’s commission, which is retained. (Important: 1 to 3 working days may be required for the money to be credited on your bank account). e.g.: £50.00 sale price – £2.24 commission = £47.76 earnings.

5 – The event appropriate VAT rate (set in the interface) is then applied by you to the amount of £47.76 e.g.: £47.76 incl. tax = £50.00 (price incl. tax paid by the Buyer) – £2.24 of WEEZEVENT commission. This commission includes an amount excl. tax of £1.87 and a VAT of £0.37 directly collected, filed and paid by WEEZEVENT to the tax collection service. In fact, please note that you cannot deduct VAT from the WEEZEVENT commissions. e.g.: Your VAT filing will therefore be £40.625 before tax i.e. a collected VAT of £8.125 (adding up to the £48.75 before tax).

Please note that in order to help you, the accounting documents available in the Planner interface display the amount you should file with the authorities.