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Automatic calculation of commission to referrers
Are there any plans for commssion/finders-fee payments to referrers?
Example: I receive a referral from a fellow freelancer, and we agree that I pay a percentage to him from fee income for that job..
I can do this manually, but being able to log this (probably at the project level) would be quite nice, so that I don't forget to pay the commission, and so I can take this into account with my own budgetting.
As a refinement - In some cases, we might agree an upper limit on the amount of commission paid, (i.e. I pay 10% commission up to a maximum of £2000)
Commission could also be a pre-agreed amount (again ideally recorded against the project)
Example: I receive a referral from a fellow freelancer, and we agree that I pay a percentage to him from fee income for that job..
I can do this manually, but being able to log this (probably at the project level) would be quite nice, so that I don't forget to pay the commission, and so I can take this into account with my own budgetting.
As a refinement - In some cases, we might agree an upper limit on the amount of commission paid, (i.e. I pay 10% commission up to a maximum of £2000)
Commission could also be a pre-agreed amount (again ideally recorded against the project)
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Inappropriate?Charles - I think we're increasingly needing an 'advanced options' area for projects, and this could well form part of that.
We'll let you know how thinking progresses on this, especially if others are interested.
The company thinks
this is one of the best points
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Inappropriate?Hi Ed and Charles
Picking up on this topic today, are we any further forward on this, has there been some development or is it on the roadmap? One of my clients has referring agents who get paid a commission on the sale value. These agents are not employees or at all related to my client's company.
Having just phoned HMRC for this there seemed to be some confusion on the VAT treatment of commission/referral fees. Initially they said commision is a taxable supply and then they said actually it would only incur VAT if the referrer was VAT registered. If any accountant/expert picks up this thread, I would welcome you take on this. Cheers and sorry for asking 2 questions in 1 post!
Emz
I’m unsure and this is too tricky for a Friday afternoon
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