How the invoicing and finance works:

Due to our agency agreement, there are two supplies of services as far as the authorities are concerned:

  1. From you as host to the end customer for the gross sales price listed on muchbetteradventures.com for providing the adventure.
  2. From MBA to you as host for connecting you with the customer and taking payments, invoiced in the form of commission.


Your supply is the gross sales price to the customer, and under UK law an individual doesn't need to be provided with an invoice. You will probably want to raise invoices for your accounts, but whether you can the customers with their invoices will depend on your local tax laws. 

MBA will be invoicing you for our commission, any invoice we send to you we will have already collected payment on, so nothing will be due from you. We will usually invoice at the time of booking, as this is when our service has substantially been enacted. Any UK companies we invoice will be subject to VAT on top of our commission. All other countries will have zero -rated VAT subject to the reverse charge. 

You will then have the gross sales price to the customer as a sales, then MBA commission invoice as a purchase to reach your net receipt amount.


Payment

In the week leading up to the departure, we will be sending payment advice to you for the net amount to be paid over, which you can check and suggest amendments if something isn’t what you’re expecting. This will in effect be a self-billing arrangement. Payment advice slips are normally sent out on the Wednesday before the weekend trips occur and will have a unique reference number of e.g. MBA PA190506. 

We will then make the payment on the Monday after the trip departs, EU payments usually clearing in one working day, and non-EU payments often taking a few days. The bank payment reference will be the unique payment reference to make it easy for you to match payments to what it's for 😊


Example

  • Trip price on MBA = £500
  • Commission rate = 20%
  • MBA will invoice you £100 for our commission, VAT subject to the reverse charge
  • MBA will create a payment advice for £400, which you can check and amend, then MBA will pay the amount over.
  • You can invoice the end customer (or just create the document) for £500.

For your accounts/tax you will then have £500 sales and £100 cost of sales giving you the £400 net sales you would have previously.


What we need from you:

  • IBAN/International bank account
  • BIC/SWIFT international bank code
  • Full address including postal code
  • EU VAT Number

If you haven't provided your bank and company details yet, please can you enter them here.


Hopefully this is clear and all makes sense, but if you have any questions please ask.

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