Value added tax

Some information on value added tax (VAT) and how it affects BitFolk customers.

Who is charged VAT?

Who is charged VAT?

Resident inside the European Union Value Added Tax Area	Resident inside the United Kingdom		Charged VAT at standard UK rate
	Not resident inside the United Kingdom	Registered for value added tax	Supplied services exclusive of VAT; reverse charge mechanism applies
		Not registered for value added tax	Charged VAT at standard UK rate
Resident outside the European Union Value Added Tax Area			Outside the scope of VAT

This mostly depends on where the customer is resident.

Customers resident within the United Kingdom

All customers (individuals and businesses) resident within the UK will be charged VAT at the standard UK rate.

Customers resident outside UK but within the European Union Value Added Tax Area

Customers outside the UK but within the European Union Value Added Tax Area will be charged VAT depending on whether they are registered for VAT.

Not registered for VAT

EU-resident customers who are not registered for VAT will be charged VAT at the standard UK rate.

Registered for VAT

EU-resident customers who are registered for VAT will be supplied services exclusive of VAT provided they can supply a valid VAT registration number. These customers will typically be required by their EU member state to pay VAT on these purchases under the reverse charge mechanism.

Customers resident outside the European Union

Customers resident outside the EU will not be charged VAT.