We are a UK corporation and we are liable to Corporation Tax and Value Added Tax according to the UK’s Tax Regime.
Our VAT registration number is 229 1297 01 – Vortex Centrum Limited.
Value Added Tax.
When money arrives with Stripe from a supporter, this is, in effect, what happens.
a) Stripe assesses its fees and deducts that from the amount received.
b) Stripe deducts our service charge and pays that to us.
c) Stripe transfers the balance to the Content Creator’s account with Stripe.
a+b = 10%. c=90%.
From a tax perspective
a) Stripe pays its own taxes
b) we treat the service charge as inclusive of Value Added Tax at the applicable rate. The applicable rate is determined by the location of our customer i.e. the Content Creator. We account to the relevant authorities for the tax so due.
c) the Content Creator is responsible for any and all taxes due on his transaction and for delivering any tax invoices that may be required.
Income and Corporation Taxes
We pay our corporation taxes according to the tax law in the UK because, regardless of where our customers are, our business is in the UK. We do not claim any offshore exemptions in relation to offshore customers.
Tax for Content Creators
The tax position for Content Creators they are subject to their local tax regime and responsible for any and all taxes that may arise from moneys received via HonourPay. We are unable to offer any advice on tax matters.