VAT on Digital Platforms

(07-07-2020 02:35 )Tumble_Drier Wrote:  Quite a few UK/EU "creators" complaining on Twitter that payouts are frozen and they're seeing a zero balance on their accounts.

That problem looks to have been resolved, because in the last few hours various girls are saying they can now get paid again.

(07-07-2020 14:47 )winsaw Wrote:  this OF tax thing is interesting i see an explanation on twitter today, it said this,
OF have always been paying there tax but only on the 20% cut they get from what the girl earns, leaving the girls to pay the tax on the 80% that they got,
HMRC has now told OF that they must pay 100% of the tax on the girls total earnings before giving the girls there cut of the money left after tax,
i wonder if some of the girls hadn't been paying all they should so HMRC is removing them from the equation,
interestingly some of the girls now think they will be better off as will be paying less tax each year,

Thats the way i have seen it they have been paying tax like a auction house does on sale they take a commision and pay the tax on that commission. but now tax man want them to pay vat on the whole lot not the commision

(07-07-2020 14:47 )winsaw Wrote:  i wonder if some of the girls hadn't been paying all they should so HMRC is removing them from the equation,

I don't think HMRC works that way.

Only those girls who are VAT registered would have been required to pay tax to HMRC.

HMRC will be doing well out of it, I doubt most girls were hitting the 85k threshold and therefore didnt have to pay VAT, but now onlyfans are paying it regardless, so HMRC are up.

(05-07-2020 09:51 )The Silent Majority Wrote:  

(05-07-2020 07:39 )HannahsPet Wrote:  Wonder if it was the channels who dobbed them into HMRC as they were taking money away from them

HMRC will be looking at everything with a magnifying glass to help pay for the coronavirus.

Regarding the lack of notice, they maybe didn't have a lot of choice if the HMRC clampdown came with immediate effect.

HMRC will be looking at everything with a magnifying glass to help pay for the coronavirus.
And when you think about I don't think even 20% is likely going to to be enough. You could be looking at VAT increases for a good few years to even cover the cost of rhe virus and payments/grant schemes that Sunak has introduced.

(04-07-2020 21:44 )HannahsPet Wrote:  

(04-07-2020 18:06 )Charlemagne Wrote:  Asha made this tweet today



So is it just OnlyFans who are charging VAT, it looks like it's only some of them who are charging

Dont worry Frisk will have to soon get the feeling the HMRC might be cracking down on these sites

If only they were so keen to go after the likes of Facebook Apple and google but oh well

And a quite a few others as well as the celebs' hedge funds, like Jimmy Carr's.
Problem being with so many of those type of things based abroad I wonder how how much leeway HMRC would get to clobber them.
Thinking of renaming this thread the VAT General Discussion Thread lol

(08-07-2020 07:09 )lovebabes56 Wrote:  And when you think about I don't think even 20% is likely going to to be enough. You could be looking at VAT increases for a good few years to even cover the cost of rhe virus and payments/grant schemes that Sunak has introduced.

Opinion seems to be that he's going to reduce it, in the short term at least, to try and stimulate the economy.

(08-07-2020 07:02 )FanofCamilla Wrote:  HMRC will be doing well out of it, I doubt most girls were hitting the 85k threshold and therefore didnt have to pay VAT, but now onlyfans are paying it regardless, so HMRC are up.

Probably still not enough to pay for the bloody virus

(08-07-2020 07:17 )The Silent Majority Wrote:  

(08-07-2020 07:09 )lovebabes56 Wrote:  And when you think about I don't think even 20% is likely going to to be enough. You could be looking at VAT increases for a good few years to even cover the cost of rhe virus and payments/grant schemes that Sunak has introduced.

Opinion seems to be that he's going to reduce it, in the short term at least, to try and stimulate the economy.

I think if OF have not paid VAT for 3 years it is going to be a sizeable payment to HMRC, and in turn that might help some of the virus bill, but does leave me wondering what the studios have been paying, I am wondering if they have been acting the same way, because if the girls are claiming they are "self employed" they are not payng VAT on their earnings at studios are they?

(08-07-2020 07:24 )lovebabes56 Wrote:  I think if OF have not paid VAT for 3 years it is going to be a sizeable payment to HMRC, and in turn that might help some of the virus bill, but does leave me wondering what the studios have been paying, I am wondering if they have been acting the same way, because if the girls are claiming they are "self employed" they are not payng VAT on their earnings at studios are they?

It's not going to be enough to make a shit of difference to the virus bill.

And paying VAT is not about being self employed. It's about whether they're VAT registered, or not.