eBay have just announced that they will to enable sellers to update multiple quantity fixed price listings with the new VAT rates.
To qualify for the refunds UK sellers must be business or VAT registered, the listing must be a multiple quantity fixed price listing and and it must be manually ended and then re-listed to update the VAT information between Tuesday 25th Nov 2008 and Friday 5th Dec 2008. For qualifying listings eBay will refund both the Insertion and Feature fees.
On the eBay give further explanation explaining that they’ve been working to update the site automatically but it’s simply not been possible to achieve this in the short period since the Pre-Budget report announced the VAT changes. Hopefully by the time the next VAT change takes effect on 1st January 2010 there will be an easier way to adjust VAT rates on the site.
There will be no need to apply for refunds, they will automatically be credited through the normal invoice process.
Although it still leaves sellers with a fair amount of work to do to update all their listings over the weekend at least they won’t be penalised financially on listing and insertion fees. Those who have multiple listings with the more expensive enhancements such as Featured First can breathe a sigh of relief that their fees will be refunded.
If you’ve been delaying updating your listings but now intend to take advantage of the relist credits we’ve written a check list for changing the VAT rates on auctions and fixed price items to make the process as painless as possible.