Understanding taxes*

We advise you consider taxes in all your pricing in advance of touring and going live on online stores. We have created a helpful sheet to allow you to account for taxes in your pricing model which can be downloaded here

UK - VAT

In the United Kingdom VAT (Value Added Tax) is paid by consumers and businesses on almost all goods and services in the UK. It is collected by businesses on HMRC's behalf and paid to HMRC.

1. The UK VAT rate is currently set at 20%
2. VAT must be included in the final advertised price for everyday consumers and can be displayed excluding VAT for B2B
3. VAT is charged on almost all goods and services with some exceptions which are generally not applicable to the sale of music and merchandise to consumers. Please refer to this article for more information
4. in tax terms, terrible* is considered an undisclosed agent, meaning we deal with consumers and HMRC directly and take responsibility for all VAT on all transactions
5. There are some exceptions for VAT namely on goods and services that exported outside the UK, if the final consumer is out of the UK. Any exceptions to VAT fall outside of our everyday practices so require more time to confirm
6. If you are a UK company/sole-trader/partnership who registered for VAT, please ensure you add VAT to invoices to terrible*
7. If you are not a UK company/sole-trader/partnership and would like to register for VAT as a foreign entity and add taxes to your invoices to terrible* please make enquiries with your own accountants in your country of residence. UK VAT registration takes 6-8 weeks, but often more time is required for foreign entities
8. VAT will show on portal*

EU - VAT

In Ireland VAT (Value Added Tax) is paid by consumers and businesses on almost all goods and services in the EU. It is collected by businesses on tax authorities behalf

1. Our EU VAT rate is currently set at 23%
2. VAT must be included in the final advertised price for everyday consumers and can be displayed excluding VAT for B2B
3. VAT is charged on almost all goods and services with some exceptions which are generally not applicable to the sale of music and merchandise to consumers. Please refer to this article for more information
4. in tax terms, terrible* is considered an undisclosed agent, meaning we deal with consumers and Revenue directly and take responsibility for all VAT on all transactions
5. There are some exceptions for VAT namely on goods and services that exported outside the EU, if the final consumer is out of the EU. Any exceptions to VAT fall outside of our everyday practices so require more time to confirm
6. VAT will show on portal*

US - Sales Tax

In the US, sales tax varies by state and is collected a few different ways. Most venues will collect and pay sales taxes in each state on behalf of artists and businesses who sell at their venues. This is usually invoiced to terrible* by venues and is paid by terrible* from your sales revenue

1. Sales tax is a consumer tax, paid by the consumer to businesses and paid by businesses to the city and state
2. Sales tax rates vary state by state, as do sales tax exceptions. Please request details from each venue when advancing merchandise for shows. There is no standard tax rate
3. Sales tax is usually added on top of the displayed sales price, but can be included in the price
4. We collect sales taxes on eligible products, across the US and report and pay these taxes on our artists behalf
5. When on tour in the US, sales taxes are also collected by venues
6. Sales tax will show on portal*