You can cash out your Beamin Boost on the 3rd Friday of every month. To be eligible for cashing out your Beamin Boost, you need to submit a cash-out request within the app before the sunday before the 3rd Friday.
The cost of Beamin is £20 per week + a one-time £50 joining fee which is taken from your flat rate VAT benefit*. The £20 per week is only charged/invoiced if you have worked that week. *If you do not have enough in your Flate Rate benefit to pay the weekly fee, it will be taken out your income. It is important to note, the joining fee is never taken directly from your incoome. If there is not enough Flat Rate benefit to cover the joining fee’ then Beamin take what there is to cover fee’ and the rest rolls over to the next pay run. Beamin will always ensure that the driver has money put aside towards their VAT return before we attempt to deduct any fee’s
In order to qualify for the Beamin Boost, you have until the sunday before the 3rd friday off the month to request your boost cash out in app. Beamin then process this payment in order for you to receive the payment in time for the 3rd friday.
Beamin boost offers an additional payout to all Beamin users, providing them with extra earnings. During the month leading up to Beamin boost day, users have the flexibility to choose the desired amount they wish to receive from their pot by accessing the app. On the designated Beamin boost day, which falls on the third Friday of every month, users will receive the cash-out amount, and their pot total will be updated accordingly within the app.
Beamin is a online digital accountancy hub, that helps you unlock the benefits of the governments Flat Rate VAT scheme and boost your income. Through your Beamin app, you are able have a clear overview on how much you’ve earned, how much you owe to HMRC and how much you are able to cash out on Beamin boost day! Not only this, Beamin also takes care of your VAT returns, UTR registration, quarterely VAT returns and pays HMRC on your behalf.