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VAT and a small part-time business venture

  • 27-11-2006 2:30pm
    #1
    um7y1h83ge06nx
    Closed Accounts Posts: 5,029 ✭✭✭


    Hi folks,

    This probably seems a silly query to you guys but I'm finding it hard to get a definite solid answer to my following question.

    I have being considering a small venture in addition to my full-time job in buying goods as a sold trader from wholesalers and selling them on through ebay to the general public.

    The thing is these wholesalers require that I have a VAT number and a company registration number.

    However, this is only going to be a small thing, a sort of hands on training for myself in business, until I decide to start something bigger, and so I would only be buying a few thousand euro worth of goods, mainly from within the E.U. and possibly Asia.

    Does this small turnover mean I won't be able to obtain a VAT/Company registration number and/or make it worth my while to make a small bit of extra money?

    Thanks in advance.


Comments

  • #2
    dahamsta
    Banned (with Prison Access) Posts: 16,659 ✭✭✭✭dahamsta


    You have to register for VAT when you hit the thresholds, but there's nothing stopping you registering before that. Just make sure you're prepared to take on the extra work involved. It's not a whole lot, but it can be frustrating, especially for a small operation.

    adam


  • #3
    um7y1h83ge06nx
    Closed Accounts Posts: 5,029 ✭✭✭um7y1h83ge06nx


    Thanks for clearing that up for me.

    It was confusing me that if I didn't hit those thresholds, could I register anyway.

    I'll carry on and conduct more research on this, and hopefully learn a lot. :)


  • #4
    Evgeny
    Closed Accounts Posts: 3 ✭Evgeny


    Cecelia Weak Fast-food wrote:
    Hi folks,
    The thing is these wholesalers require that I have a VAT number and a company registration number.

    Sorry, but I really wonder why wholesales want to deal with VAT payers companies only?:confused:


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