Claiming Ebay and Paypal fees

the_lunatic_is_in_my_head

Possibly, I'm not sure to be honest.

Do you get many Euro payments? Working out the fees for the GBP shouldn't be too time-consuming, number of GBP payments received *0.20 and total money received/100 * 3.4

Then you could run a date search for Euro payments on the Paypal website and the transaction pages will show a breakdown including the fees and currency conversion rates.

judywoody

When I download the spreadsheet it showed me both Euro and Pounds received. From now on I will only receive payments in Euro (into my Business account)..the Euro Payments weren't split up either. On the breakdown it didn't show me the converted GBP amount for some reason. Only how much I received in Euro and it didn't break down any fees.
In fact I had to do the following - for example:

I received a payment of EUR 4.60
Paypal immdiately deducted their fees which are 3.4 % and an additional amount of 0.35 Euro. Only then they converted the money into GBP.
(by the way, German Paypal fees are lower - they are only 1.9 % + 0.35 Euro but as a UK customer I still have to pay 3.4 % :-( ). As exchange rates vary, there is no point trying to convert the deducted fee (which is in Euro) every time into GBP. The amount was converted into £ 3.32.
In order to find out how much money I would have received in GBP in the first place (before the fees were deducted) I have to to the following (I actually had to figure out first whether they deduct the 20 pence first or the percentage fee - they deduct the percentage fee BEFORE the 20 pence)

£3.32 + £0.20 = £3.52
£3.52 = 96.6 % (3.32 / 96.6)
1% = 0.0364389233954451
0.0364389233954451 * 100 = £3.64
3.64 - 3.52 = 0.12

That means if I had received the money in £ I would have received £ 3.64. They would have deducted 3.4 % ( 12 pence) and an additional 20 pence. Which brings me to £ 3.32....

What a nightmare!!!