[king marko]

Going to see accountant on Saturday - is it worth trying to claim back PayPal fees? Or more to the point-Can you claim them back??
I've worked it out over the last year and it totals over £120 - is it worth mentioning?

[elite mike]

yes

[king marko]

I'm trying (with relative success)to get customers paying via bank transfer now - but still get the odd payment
If I can claim the fees back, why is PayPal frowned upon?

[deeege]

I don't think "claiming back" means what you think it means. Your not actually claiming the full amount back, just increasing what you can earn before you pay tax.

Whichever way you look at you will still be worse off than you would be if you didn't pay the fees in the first place.

[king marko]

Please explain how I will be 'worse off' ??

[deeege]

http://www.cleanitup.co.uk/smf/index.php?topic=152248.0;all

Look down to post 16. Explains it better than I can be bothered to at this hour.

[keyser soze]

if your business earns 50.000 a year . then paypal or any other expenses/ allowances will be offset against that figure which lets say for argument adds up to 10.000 so in efffect  your business made a profit of 40.000 and you would be taxed accordingly .

[Steve Sed]

Paypal is a totally unnecessary cost of doing business. I can't understand why a windy would use it.

[deeege]

Paypal is a totally unnecessary cost of doing business. I can't understand why a windy would use it.

I agree steve.

[king marko]

Paypal is a totally unnecessary cost of doing business. I can't understand why a windy would use it.

Because its another option of getting paid ! Id rather lose the odd 50p in fees now and again than go collecting - now I've set up for online banking, those that have paid PayPal are just switching over

[king marko]

if your business earns 50.000 a year . then paypal or any other expenses/ allowances will be offset against that figure which lets say for argument adds up to 10.000 so in efffect  your business made a profit of 40.000 and you would be taxed accordingly .

I'm not a total idiot I do understand that at least!

[supernova77]

Paypal is a totally unnecessary cost of doing business. I can't understand why a windy would use it.

I agree...

At the moment I use NOCHEX, have a look >> http://pay.iconicwindowcleaning.co.uk

But, it costs me each time a customer uses it (not many do though) so soon I'm going to get rid of it.

I would say about 70% of my customers now pay by bank transfer...

Each time a customer goes to write me a cheque I now ask them to use bank transfer instead if they can.

Andy

[Perfect Windows]

Paypal is a totally unnecessary cost of doing business. I can't understand why a windy would use it.

Compared to other ways of collecting it's hardly the end of the world.

1. Collecting - Madness that takes up HOURS of time.
2. Cash - Still have to waste time counting and checking plus queuing at the bank to pay it in.
3. Direct transfers - bank charges apply; low, but they apply.
4. Cheques - time queueing plus a fee.
5. Handheld reader at the door - fees plus time
6. Direct Debit - fees.
7 Standing order - bank charges apply.

So there isn't really a truly free way of collecting payment.

Vin

[Dave.]

Paypal is a totally unnecessary cost of doing business. I can't understand why a windy would use it.

I agree...

At the moment I use NOCHEX, have a look >> http://pay.iconicwindowcleaning.co.uk

But, it costs me each time a customer uses it (not many do though) so soon I'm going to get rid of it.

I would say about 70% of my customers now pay by bank transfer...

Each time a customer goes to write me a cheque I now ask them to use bank transfer instead if they can.

Andy

I used to have nochex because it had a lower rate than paypal, but when I withdrew money there was another similar charge - making it dearer than paypal.

I've got a handful of customers who prefer paypal, gradually they're changing to bank transfers, but at the moment paypal fees are about £3ish a month.

I've got a business account with lloyds, on their electronic transfer tariff, and standing orders & transfers are free, I pay charges on cheques - and cash doesn't go into that account as their charges are stupidly high.

I'm thinking of joining the FSB to get free business banking with the co-op

[H S and Son]

Paypal is a totally unnecessary cost of doing business. I can't understand why a windy would use it.

I agree...

At the moment I use NOCHEX, have a look >> http://pay.iconicwindowcleaning.co.uk

But, it costs me each time a customer uses it (not many do though) so soon I'm going to get rid of it.

  Uh, so therefore what separates the two? Unless NOCHEX is an unnecessary cost of doing business as well, in which case you just as well use PayPal.

[supernova77]

Uh, so therefore what separates the two? Unless NOCHEX is an unnecessary cost of doing business as well, in which case you just as well use PayPal.

Thats why I said I was going to stop using it. 

[Window Washers]

there is a cost for both, which is greater now ?