invoicing sole trader

crowej

I am a sole trader and am about to invoice a client, but i am unsure how to fillout the invoice. the invoice is for a IT services

should i put vat on it ? if not do i pay vat on the amount invoiced ?

are there any other tax etc issues i should put on it ?

jameshayes

Yeah, put VAT on it, if the company dont like it - they will just subtract it.

try keep your invoices numbered - it will make both your and the company's life easier..

crowej

put vat on it despite not having a vat number ?

jameshayes

if your a sole trader you should have a vat number...

jameshayes

if your only after setting up it will take a few days to come out to you...

You should have a VAT number but no cert of incorp

GerardKeating

jameshayes wrote:

if your a sole trader you should have a vat number...

No, you only need to register for VAT if your turnover is over a certain limit.

Mostly likley if will be, if you are full time, but the OP might be part time.

GerardKeating

crowej wrote:

put vat on it despite not having a vat number ?

If you are not registered for VAT, you should not charge VAT.

JoeTurner

crowej wrote:

I am a sole trader and am about to invoice a client, but i am unsure how to fillout the invoice. the invoice is for a IT services

should i put vat on it ? if not do i pay vat on the amount invoiced ?

are there any other tax etc issues i should put on it ?

Just sent you a pm crowej

Thanks

Joe

axer

Im pretty sure if you are not vat registered then you should be putting your pps number on it. You should really check this stuff out with an accountant though.

ircoha

depending on your client, this may apply

http://www.revenue.ie/index.htm?/revguide/witholdingtaxprofessionalfees.htm

Its important for cashflow purposes

Sonnenblumen

jameshayes wrote:

Yeah, put VAT on it, if the company dont like it - they will just subtract it.

try keep your invoices numbered - it will make both your and the company's life easier..

INCORRECT

Sonnenblumen

jameshayes wrote:

if your a sole trader you should have a vat number...

INCORRECT ..AGAIN!!

Sonnenblumen

crowej wrote:

I am a sole trader and am about to invoice a client, but i am unsure how to fillout the invoice. the invoice is for a IT services

should i put vat on it ? if not do i pay vat on the amount invoiced ?

are there any other tax etc issues i should put on it ?

All invoices should clearly state, service provided, invoice date, invoice number, amount, the amount subject to VAT, the VAT rate and the VAT amount due but note you can only charge VAT if you are VAT registered.

There are a myriad of terms and conditions concerning VAT and other taxes eg witholding tax (professional fees), RCT, C2 etc etc apply at payment stage and not relevant here.

The most important person to ensure proper records are kept are the VAT records, much more vigilant than PAYE/PRSI, DO NOT mess around with VAT, or you will suffer serious consequences. As the saying goes, 'keep the VATman happy'.

mckers

Sonnenblumen is absolutely right.

The registration limit for VAT for a person supplying a service rather than goods is in c€27,000. If you are over this limit or expect to be over this limit, then you need to register. If you are under this limit you have the option to register. Being VAT registered will obviously entitle you to reclaim VAT on your purchases, so where you are under the reg limit, this will need to be considered.

If VAT registered, you are more than likely charging 21% vat on your invoices.