VAT3 - Help -

JynxIRL

Hello,

I bought tyres for my commercial jeep in the North, I'm vat registered so i quoted my vat number and i got the tyres ex vat, do i need to fill in any info or declare anything on the Vat3 form about the amount of vat i didn't have to pay for in the North?

Also I'm registered for vat the last 6 months but things are very very slow and I'm not selling very much and i have collected very little vat or even none at all, will revenue come down hard on me for registering for vat and not collecting much vat?

I need to be registered for vat as I'm selling mostly business to business who them selfs are mostly vat registered and to be competitive I needed to registered for vat.


Any advice welcome:)

DubTony

You can register for vat no matter how little you return. No problem there. Butchers for example rarely collect any vat, but most are registered. As to your question re: Northern Ireland, I think there's a space on the form where you let them know the value of good purchased from outside the state. Obviously if you didn't pay vat there'd be a nil return in the vat paid section.

JynxIRL

Thanks for the quick reply.

Mr. Presentable

You fill in the value of other EU purchases in one of the boxes on the left. Forget what its called.

JynxIRL

Box E2 "value of goods received from other EU Countries" - Would i put in the amount ex vat or plus the vat?

Thanks.

GerardKeating

JynxIRL wrote: »

Box E2 "value of goods received from other EU Countries" - Would i put in the amount ex vat or plus the vat?

Thanks.

ex-VAT

More details

http://en.wikipedia.org/wiki/VAT_3

JynxIRL

T4

T4 is only to be filled out if the total amount of VAT on Purchases (T2) is higher than the Total amount of domestic VAT on Sales (T1). This figure is the total Net repayable from the Irish Revenue Commissioners, that is, the amount of VAT the business will be receiving from the Revenue Commissioners. Usually companies making a Refund claim will be asked to provide Proofs of their Purchases, usually invoices, bills, etc. If T1 exceeds T2 a Nil figure can be placed in this box.



"Usually companies making a Refund claim will be asked to provide Proofs of their Purchases, usually invoices, bills, etc."

Do i have to provide proof straight away when i do my Bi monthly returns - or do i just file away the invoices ready to be viewed?

I don't send all the invoices on purchases and sales back with the VAT3 form do I?

lecheile

JynxIRL wrote: »

T4

T4 is only to be filled out if the total amount of VAT on Purchases (T2) is higher than the Total amount of domestic VAT on Sales (T1). This figure is the total Net repayable from the Irish Revenue Commissioners, that is, the amount of VAT the business will be receiving from the Revenue Commissioners. Usually companies making a Refund claim will be asked to provide Proofs of their Purchases, usually invoices, bills, etc. If T1 exceeds T2 a Nil figure can be placed in this box.



"Usually companies making a Refund claim will be asked to provide Proofs of their Purchases, usually invoices, bills, etc."

Do i have to provide proof straight away when i do my Bi monthly returns - or do i just file away the invoices ready to be viewed?

I don't send all the invoices on purchases and sales back with the VAT3 form do I?

File for future evidence of the claim. If there is a large reclaim revenue may ask you to send in copies of the invoices that make up the large portion of the reclaim, but they may issue refund directly.

Always nice to get some back

JynxIRL

Thanks for all the Info