2010 was a great year for us, the new website and all the new releases really helped us to grow the business. Unfortunately this means that we have reached the point where we have to become VAT registered, and we are going to have to increase our prices to reflect this. However, we will not be increasing our prices by a full 20%, instead we will be putting in place an increase of around 8%, which should be enough to cover the predicted VAT bill.
So the new pricing structure will be:
£3.25 ---> £3.50 (Standard packs)
£1.90 ---> £2.05 (Vehicles)
£1.10 ---> £1.20 (Small packs)
£1.45 ---> £1.60 (Fantasy packs)
This increase will come into affect on the 1st February, so everyone's got just under 4 weeks to get any orders in at the current prices.
Now a point worth noting, is that as a result of this, all of our Non-EU customers will no longer have to pay any VAT on our products. This means that a regular pack priced at £3.50 will now only be £2.92 to those of you in North America for example. This is quite a significant chunk of our income to lose, so we are going to have to counteract this by also increasing the postal rate for all Non-EU customers to 25%.
Here's a few examples to clarify:
Customers in the UK
Currently - £3.25 + 5% p+p of £0.16 = £3.41 per pack
New prices - £3.50 + 5% p+p of £0.18 = £3.68 per pack
European customers in the EU
Currently - £3.25 + 10% p+p of £0.33 = £3.58 per pack
New prices - £3.50 + 10% p+p of £0.35 = £3.85 per pack
European customers outside the EU
Currently - £3.25 + 10% p+p of £0.33 = £3.58 per pack
New prices - £2.92 + 25% p+p of £0.73 = £3.65 per pack
All other customers
Currently - £3.25 + 15% p+p of £0.49 = £3.74
New prices - £2.92 + 25% p+p of £0.73 = £3.65
We hope everything there makes sense, but we're sure there'll be all kind of questions on this, so please ask away and we'll do our best to answer them for you. The whole VAT thing is a bit of a pain, but our main concern is for our customers and keeping any price changes fair for everyone, whilst still allowing us to keep the business going. Hopefully we've done that, and you'll continue to enjoy our figures as normal.
Just for info, these are the countries currently in the EU:
* Austria
* Belgium
* Bulgaria
* Cyprus
* Czech Republic
* Denmark
* Estonia
* Finland
* France
* Germany
* Greece
* Hungary
* Ireland
* Italy
* Latvia
* Lithuania
* Luxembourg
* Malta
* Netherlands
* Poland
* Portugal
* Romania
* Slovakia
* Slovenia
* Spain
* Sweden
* United Kingdom
Leon,
Will the non-VAT prices be calculated at check-out? Or will you refund the difference?
Tom
Quote from: Shecky on 06 January 2011, 02:08:39 AM
Leon,
Will the non-VAT prices be calculated at check-out? Or will you refund the difference?
Tom
It'll all be done at checkout, so when you go through to PayPal, you'll be paying the non-VAT prices.
Still amazing value even with the price increase. A few of the guys at the club are seriously looking at 10mm for future purchases with Pendraken as the leading contender :). The freebies and raffle prizes at Nikfest helped plus the demo games put on at Nikfest, Colours and the club.
Time for a big order 8)
Quote from: Steve J on 06 January 2011, 07:52:51 AM
Still amazing value even with the price increase.
I second that.
And congratulations on the success that has led to this development. =D>
I, like Pruneau, will have to get an order in before 1st February.
BTW any news on those themed monster packs (sorry if that sounds like nagging)?
Leon
You should also include the Channel Islands as a destination that has Zero rated VAT.
Chad
PS Congratulations on the growth and i agree with other comments that the figures are excellent value for money.
All sounds fair to me (here in Canada). Congratulation on making that big step in revenue.
Thanks for the positive response guys, I was dreading opening this one in case there were load of questions! Onwards and upwards for the Pendraken empire!
8)
Quote from: Steve J on 06 January 2011, 07:52:51 AM
Still amazing value even with the price increase. A few of the guys at the club are seriously looking at 10mm for future purchases with Pendraken as the leading contender :)
Excellent, was it the nice packaging that did it....! :D
Quote from: capthugeca on 06 January 2011, 09:38:22 AM
BTW any news on those themed monster packs (sorry if that sounds like nagging)?
I was hoping to have them for this months releases, but all sorts of stuff got in the way of that. I'll be starting a thread in the Dungeon section soon for some input on what themes people would like.
Quote from: Chad on 06 January 2011, 12:54:33 PM
You should also include the Channel Islands as a destination that has Zero rated VAT.
Cheers for that info, I'll make a note of that.
Looks like I will be putting an order in soon then :D. Dont worry about the price increases, it happens, but as everyone has said previously, the packs are still really good value :)
Glad that your efforts have paid off in the last year - I am very impressed by the forum, website, tradestand and quantity &quality of new releases - long may your success continue =D>
Now, i must go and order those Tarleton wearing cavalry before the price increase. Oh..... hang on.......
"Excellent, was it the nice packaging that did it....! "
That was a nice touch that wasn't immediately apparent :).
Quote from: goat major on 06 January 2011, 01:53:47 PM
I am very impressed by the forum, website, tradestand and quantity & quality of new releases
And the staff aren't bad either! :D
Quote from: capthugeca on 06 January 2011, 03:34:49 PM
And the staff aren't bad either! :D
I said I'll do the theme packs this weekend! :P
(makes whip noise) :D
Quote from: Leon on 06 January 2011, 04:03:26 PM
I said I'll do the theme packs this weekend! :P
Leon, you're brilliant! :D
So, if I understood correctly, as I am ordering from China, I've better to order after the first of February, right?
Quote from: Le Manchou on 12 January 2011, 03:57:51 AM
So, if I understood correctly, as I am ordering from China, I've better to order after the first of February, right?
Yep, as you'll be saving 9p per pack!
This would be a whole lot easier if all those listed countries would buck up and just become states/provinces of the country of Europia, Europeania, Trans-Europa or some such name. With all the cross-pollination and nationalism quickly evaporating, it's going to happen sooner or later. Now, let's see, where should the capital be?... :D
There seemed to be some confusion on the TMP about why the increase in postage. I wrote an explanation and they understood it. now that scares me.
Quote from: privateer on 15 January 2011, 04:56:30 AM
There seemed to be some confusion on the TMP about why the increase in postage. I wrote an explanation and they understood it. now that scares me.
Thanks for that, I've posted there as well. To be honest, there's been a lot less confusion than I was expecting. A couple of the comments on TMP were a bit odd though?
Quote from: Leon on 15 January 2011, 04:59:35 AM
A couple of the comments on TMP were a bit odd though?
Really? You do surprise me... ;)
It can be an ODD place at times, but never fails to amaze and amuse.
Quote from: privateer on 15 January 2011, 04:56:30 AM
There seemed to be some confusion on the TMP about why the increase in postage. I wrote an explanation and they understood it. now that scares me.
We should hire you as our official TMP translator! ;)
Quote from: nikharwood on 15 January 2011, 09:13:52 AM
Really? You do surprise me... ;)
It was actually the comment from 'Fighting 15s' about Baccus?
Yeah - I thought that was a bit of an unnecessary snipe at a fellow trader really...didn't show himself in a great light there, did he? Offensive to you & to Baccus - when neither of you particularly compete with what he stocks...
To be fair to Fighting 15s I think he was jokingly welcoming Pendraken to the Axis of Evil being Baccus and himself, i.e. he and Baccus have both taken flak over similar pricing issues, from people on TMP who resent paying for toys or don't understand the economics. Its the posts below his that are the hostile ones.
Ah well, it's still caused less hassle than I thought it would, so I can't really complain too much.
Quote from: clibinarium on 15 January 2011, 07:46:53 PM
To be fair to Fighting 15s I think he was jokingly welcoming Pendraken to the Axis of Evil being Baccus and himself, i.e. he and Baccus have both taken flak over similar pricing issues, from people on TMP who resent paying for toys or don't understand the economics. Its the posts below his that are the hostile ones.
Ah OK - my misunderstanding [maybe he should have used a sticking-out-tongue / winking emoticon eh?] :P ;) ;D
why do I appear to be paying VAT at checkout on my Postage and packing as well as on the figures?
Carl
Quote from: carl on 19 February 2011, 03:16:16 PM
why do I appear to be paying VAT at checkout on my Postage and packing as well as on the figures?
Carl
The VAT is calculated after the postage, but it still works out correctly at the end.
A pack without VAT is £2.92 + 5% postage of 0.15p then 20% VAT of £0.61p = £3.68. Exactly the same as £3.50 + 5% postage of £0.18 = £3.68.
When we met with the accountant he told us that we had to charge VAT on all the postage, however, we've done the formula's on the website so that we take the VAT hit there, and we are still only charging the same percentages as before.
Now saying all of that, when I've checked your order, it looks like you've discovered a small glitch. As it's only a small order, the postage is automatically set at a minimum 50p, which has then had VAT added to it, taking it up to 60p. We'll just have to change the minimum on the website to 0.42p, which would then be 50p after the VAT's been put on.
The webstore is doing some strange rounding on VAT.
If you add 10 x £3.50 packs then the total is £35.04
2 x £3.50 comes out as £7.01
I think it is working out the total net price, then adding VAT. Rather than adding VAT to each item, rounding and then totalling.
As you are giving the inc VAT price, you need to round at the item level, rather than the invoice level.
Don't you just love VAT. :o
Quote from: fred12df on 21 March 2011, 08:21:42 PM
The webstore is doing some strange rounding on VAT.
If you add 10 x £3.50 packs then the total is £35.04
2 x £3.50 comes out as £7.01
I think it is working out the total net price, then adding VAT. Rather than adding VAT to each item, rounding and then totalling.
As you are giving the inc VAT price, you need to round at the item level, rather than the invoice level.
It's from the back of house price. £3.50 minus the VAT is £2.91666, which is rounded to £2.92 for the website (which works on net). So, for every 2 1/2 packs it adds an extra 1p. We're working on some changes to fix this soon.
Yeah, as Leon says we're in the process of fixing that... it should be sorted by the weekend... along with a few other fixes/additions.
Thanks for letting us know Fred. 8)
Matt
Thjats the site down for a month then. :D :D
IanS
Quote from: ianrs54 on 24 March 2011, 03:53:52 PM
Thjats the site down for a month then. :D :D
IanS
??? Wha? errrrrrr no
I know you're only joking ( :)) but seriously, 99.9% uptime of the services we have direct control of with the budget/resources we have is good going in my book.