I’m really sad to let you know that we will have to cancel our eFOLDi Kickstarter campaign, which is due to the unexpected tax complications in the UK:
Up until last week, we had always been advised that when eFOLDi was used by people with mobility issues, it would be exempted from VAT (Value Added Tax). Therefore VAT hasn’t been included when calculating the product cost. However, we have only been notified now that all the scooters with hand braking system instead of electronic brakes will be excluded from VAT Exemption, which means we will be liable to pay 20% VAT when sales reach the threshold of £83K. As our Kickstarter campaign target is set to £90K, which is just above the threshold, we will make a big loss after paying the unexpected VAT.
It is an extremely difficult decision to make, especially seeing we are so, so close to the finishing line, at 92% funded! We have been trying very hard to resolve the issue without cancelling the campaign, but hasn’t found a solution so far. After careful considerations, we have come to the decision to cancel the funding raising campaign. Please be rested assured, your fund hasn’t been and will not be taken by Kickstarter in association to this project.
We are in active discussions with the manufacturer to see if they can start the first batch production of eFOLDi with a much reduced minimum order.
We are determined to bring your orders of eFOLDi to you at the time promised! To avoid the VAT issue, we are hopeful to start a new campaign in the next couple of days on a UK platform with a low funding target, so that we can fulfill your pledges at the current price and delivery time.
Could you please let us know your email address (sending an email to email@example.com would be great!), so that we can let you know as soon as the new campaign starts running. Or you can register to buy on our website http://efoldi.co.uk/contact/
Thank you in advance for your help!