Should I register for VAT?

Q: I have just left my job to start my own contracting business, I have one client so far. Should I register for VAT?

8th January 2016

A. Congratulations on going out on your own! The quick answer is yes, if  your business services or sales are taxable, and if the value of the services provided exceed or is likely to exceed €37,500.  If you end up selling goods the threshold is different at up to €75,000. You don't mention what services you will be providing so it is important to seek specific advice on this. Rememeber also to never add VAT to your sales invoices unless you are registered. To do so is a criminal offence!

Disclaimer: Advice shared in this blog is intended to inform rather than advise. Taxpayer's circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this forum, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

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Call us today to make an appointment at your local office

1890 98 76 09

Or submit an enquiry