support@tradecashnetwork.com
UK Call Centre 0207 112 0234
support@tradecashnetwork.com
UK Call Centre 0207 112 0234
Trade Cash Network Members pay the VAT in Trade Pounds.
Normal VAT rules regarding cash sales and purchases apply.
When you make a Business Purchase, VAT is reclaimed in Cash from HMRC.
Even, when you overdraw your Trade Cash Network Account using our Interest Free Overdraft Facility, you can still claim the VAT on your Business Purchases in Cash from HMRC
Natually, you are still required to account for your VAT on sales. This cash cost is offset by your purchases.
Trade Cash Network transactions are treated in the same way as a Cash Transaction.
When you make a Trade Cash Network sale, the Trade Cash you earn is treated as Cash Income.
When you make a Trade Cash Network Business Purchase, the Trade Cash you spend is treated as a Cash Expense.
If you have sold more than you have purchased, the remaining Trade Cash is Taxable Income. However if your Business Expenditure on the Trade Cash Network exceeds your Sales, you can use this as a Tax Deduction.
Many companies in our industry make regular donations to Charities.
Whenever you donate Trade Cash to one of our Registered Trade Cash Network Charity Members, the payment is normally 100% tax deductible. To make this valuable contribution even more affordable, we do not charge any commission on Trade Cash Network Charitable Donations.
Please note, the Trade Cash Network is not responsible for the payment of any of your taxes. You should obtain information from your Accountant regarding any tax questions your may have. The information on this page is a guide only. All Trade Cash Network Currencies have the same value as their respective cash currency. The tax authorities will treat any transaction conducted through the Trade Cash Network as if it were paid in Cash.
