Setting up a new business / VAT reg

Access

I want to start a sideline business that i make a small bit of extra money each month separate from my day job. I have the idea, and already have a few bookings for next year.

I know i must register a business name with cro.ie, but do they get me a Vat reg or how do i go about applying for one/getting one?

The problem i have is that i will only make approx €1000-2000 euros per year from my business, but need the vat reg as i will have to buy goods from a cash and carry. Will i be investigated for earning so little if i have a vat reg? will they think im dogging the books?

I am sorry if this is a newbie question, but i dont know where else to ask/find info!

I have been looking on cro.ie but am at a loss on what to do next.

Thank you for any help you might give me in advance!

joolsveer

You register with the Revenue Commissioners for VAT and Income Tax. www.ros.ie

is_that_so

Access wrote:

I want to start a sideline business that i make a small bit of extra money each month separate from my day job. I have the idea, and already have a few bookings for next year.

I know i must register a business name with cro.ie, but do they get me a Vat reg or how do i go about applying for one/getting one?

The problem i have is that i will only make approx €1000-2000 euros per year from my business, but need the vat reg as i will have to buy goods from a cash and carry. Will i be investigated for earning so little if i have a vat reg? will they think im dogging the books?

I am sorry if this is a newbie question, but i dont know where else to ask/find info!

I have been looking on cro.ie but am at a loss on what to do next.

Thank you for any help you might give me in advance!

With that level of income you do not have to register for VAT as you are way below the threshold.

TBH if it is a part-time business you might be as well just doing it as part of your PAYE returns initially - as extra income. The self-employed online tax return is a bit too detailed for what you seem to have in mind, at least for now.
Register a business name on CRO, but only if you need one. As far as records are concerned , keep all receipts and any invoices. Excel will do fine for accounting.
It is probably best to have all expenses and income pass through a business account rather than try to separate things out in your personal account.

Also if your business is education related it will be zero-rated anyway.

information

[QUOTE=AccessThe problem i have is that i will only make approx €1000-2000 euros per year from my business, but need the vat reg as i will have to buy goods from a cash and carry. Will i be investigated for earning so little if i have a vat reg? will they think im dogging the books?[/QUOTE]
They wouldn't think you are doing anything dodgy.
If they do and your not, whats the problem.

Access

Thats fair enough, but like i said, i would need to buy supplies from a local cash and carry, and they seem to only serve people who have vat regs.

Can i purchase from a cash and carry without a vat reg... does anyone know if this is possible? As this would be my main reason for getting a vat reg.

cbb16

Do you know anyone who has a cash and carry account - if so you can used their account number, they have never asked me for any identification, I just give them the number and company name. I dont think they care. You can pay by cash which means you dont have to give any phone number if you pay by card or cheque - you would need to do this because your name is not the same as the account holder.

Good Luck.