FAQ

Frequently asked questions

How to I become a member of this LETS scheme?
Please read the Members Agreement and fill in the Joining Form.

How are payments made?
All trading is done in "Canaries". In general all services are traded at 10 Canaries per hour. If parts of an hour are used, you usually round up, but it's up to the people making the transaction. For goods you need to work out what you'd be happy to charge. For example half a dozen eggs could be 5 Canaries, or maybe 10 Canaries, or 2 or 8. It's down to the people trading to find the level.

How do I find members in my area?
Click List of Members, and either sort by Neighbourhood or by Postcode, or put the Neighbourhood or first part of the postcode in the location (for example NR14 or NR14), and click Search.

How do I search the offered or wanted lists for the items in my area?
Click List of Offers (or Wants) and enter the first part of the postcode in the keywords (for example NR14 or NR14 6) and click Continue.

If I provide the same services for LETS as I do for my business, do I get taxed?
If you provide the same services as your main job on the LETS scheme - then they must not use the earned canaries for personal things - only things that are relevant to the business. So for example; Jack, a marketing consultant, provides marketing and websites for clients. Using LETS he offers help with blogs and Facebook and in return for other people provide proof reading and data entry services. He would like to buy cakes with his currency - but unless he can prove this is for his business, he can’t.
Some members have two accounts - personal and professional - but they offer different services through each account - and receive different services to each account. One important thing: you must not employ yourself – this could be seen as TAX avoidance.

Click here for more details about legal issues and taxation