You should consult this article if your buildings are:
Located in the UK
Registered for VAT with HMRC
How it works:
The Hubble Pass uses HMRC's self-billing mechanism to invoice all bookings. This means that, once a self-billing agreement is signed, Hubble is authorised to prepare a sales invoice on your behalf. This is a valid VAT invoice showing the output VAT on your sales. The invoice will break down your bookings as follows:
The no. of day pass bookings x the day pass list price = total day pass booking value (i.e. your Revenue from day passes)
The no. of meeting room bookings x the meeting room list price = total meeting room booking value (i.e. your Revenue from meeting rooms)
The no. of private office bookings x the private office list price = total private office booking value (i.e. your Revenue from private offices)
Total VAT on your Revenue above (this is your output VAT)
The self-billing invoice deducts the following:
Hubble's commission on each of the above, at the agreed commission rate determined during onboarding & detailed in our Hubble Pass sign-up form.
Total VAT on our commission.
Which leaves the "net amount" or "transfer value" i.e. the amount you will be paid.
Note that we will also send you a separate VAT invoice for our commission after we have processed payment. This is purely for your input VAT records and is exactly the same as the amount deducted from the self-billing invoice. This is so that we are compliant with the VAT rules. Note that this invoice does not need to be paid, as it has already been deducted from your net amount.
Steps to get set up:
The process is designed by Billing Entity. For example -
if you have 10 buildings but all are registered to the same billing entity (e.g. Host Name Ltd), then you only require one self-billing agreement & one Tipalti account.
if you have 10 buildings but each is registered to a different billing entity (e.g. Building 1 is registered to Host Name 1 Ltd, Building 2 is registered to Host Name 2 Ltd, etc), then you require one agreement which lists all billing entities but will require a separate Tipalti account for each billing entity.
We require a self-billing agreement to be signed in order for us to prepare self-billing invoices and to comply with HMRC's requirements. This will be sent to the finance contact email address via software called Avvoka in a separate email.
A guide on how to sign the Avvoka document is available here.
We use software called Tipalti to generate self-billing invoices and process payments. An invitation to the portal will be sent in a separate email.
A detailed guide on how to create your Tipalti profile is available here.
How do I get my invoices & payment?
Once fully onboarded, you are now ready to receive invoices & payouts to the bank account you've provided in Tipalti.
Here is a detailed guide on how Tipalti works & how to access your invoices.
We prepare self-billing invoices in the first week after the calendar month end. Once they are prepared, you will receive an email notification advising you of the payout and you can download your invoices in the Tipalti portal. The invoices are also attached to the email, however the link only lasts 7 days, after which you need to login to the portal to download copies.
If you require an estimate of your bookings prior to the payout, please consult your Host Dashboard.