We charge a commission on all money we pay out to you. We keep this to a minimum and use it to run the company. Our current commission rate is 9.5%.
Tax implications of commission:
For tax purposes, commission is a deduction against the income you receive from us. If you’re subject to UK tax, you should claim it as a deduction against the income you report on your tax return. If you’re a self-employed individual, you would normally include these charges as an expense against your business income.
If you’re not in business, you should report the net figure (your income minus our commission) on your tax return.
If you’re not sure about any of this, you’ll need to contact your accountant or tax advisor. Because taxation is so complex, we’re not authorised to provide individual information or advice.