0% VAT? Medical Services...

Kbolt

Hi all,

Quick question...

I have a small limited medical corp. and as of now I am not vat registered because we don't charge vat on our medical products / services. The catch is that we can't claim back any of the vat that we pay on our medical equipment that we work with. I heard someone mention something about a 0% Vat registration... Is this true? I'm just trying to find away to claim back the thousands I've had to pay over for vat charges...

Thanks all.

Kbolt

walshy123

There are 6 Vat Rates - Zero, 4.8, 5.2, 10, 13.5, 21.5

You need to be more specific about the product/service you provide. Here is a link to the Revenue listing, this will tell you what VAT rate you should be applying...

http://www.revenue.ie/en/tax/vat/rates/index.html#M

Kbolt

Thanks Walshy, according to that link I would be VAT Exempt. As of now I don't charge vat on my services which is okay but I was just hoping of away to be able to claim back some of the Vat ive paid over for equipment etc...

Thanks agian!
Kbolt

Legend100

if you are vat exempt, then you cannot claim the input credit on your purchases unfortunately

walshy123

/\ as he said /\

this is the difference between being VAT exempt and zero rated. unfortunately you will not be able to reclaim any VAT you have paid