How SplitSum Works
Splitsum automates the process of separating contractor payments from your business income, ensuring you only pay VAT on what's actually yours.
Client Pays You
Your client makes a single payment to your Splitsum account for the full invoice amount.
Automatic Split
SplitSum instantly divides the payment between your business and your contractors according to your predefined rules.
Pay Less VAT
You only pay VAT on your portion of the revenue, not on the contractor payments, saving you thousands.
Key Benefits & Who It's For
Key Benefits
- Save hours every week on admin
- Stay compliant with VAT — only pay on your portion
- Improve contractor trust and transparency
- Use your phone or card reader
Who It's For
- Tattoo Studios
- Salons, Barbers & stylists
- Med spas & injectors
- Beauty & Wellness studios
Frequently Asked Questions
What is VAT?
Value Added Tax (VAT) is a consumption tax placed on a product whenever value is added at each stage of the supply chain, from production to the point of sale. In the UK, the standard VAT rate is 20%. Businesses above the VAT threshold must register for VAT and charge it on their sales.
How does SplitSum save me money?
VAT is due on all funds received by the business, not just the contractor payments. SplitSum automatically splits the payment between the business and the contractor, so you only pay VAT on your portion of the revenue.
Is SplitSum compliant with tax regulations?
Absolutely. Splitsum's approach follows standard accounting principles. The key insight is that money paid to contractors isn't your business income—it's sent directly to them and never enters your business's bank account.
How does the SplitSum platform work?
Splitsum integrates with your payment processes to automatically split incoming card payments between your business and your contractors in real-time. When a client pays you, the contractor's portion goes directly to them, while your portion goes to your business account. The platform generates compliant documentation for all transactions.
How long does it take to set up SplitSum?
Most businesses can be fully set up on Splitsum within 1-2 business days. Our onboarding team will guide you through the process, helping you integrate SplitSum with your existing payment systems and contractor arrangements.
How do I get started?
Visit the sign up page and create an account. Once you have created an account you can connect your Stripe account and begin splitting payments!
Ready to start saving?
Register now and we'll walk you through setup.
SplitSum is a card-payment splitter for contractor-based businesses. Powered by Stripe. No dev work required.
Click here