De-Register for VAT

an_other

How do I go about de-registering for VAT and is it much hassle?

I lost my job last year and decided to try and pick myself up work while looking for a better option.
So at the start of this year I registered as self employed and also registered for VAT (because I wanted to sell my services to the business community)
I am no where near reaching any kind taxable income in fact I haven't earned a penny in weeks. Most of my income this year has been from social welfare (claiming for days I have no work)

The fact that I am registered for VAT means I have to add VAT to every job I do which means I am charging more than I would like.

Since I am no where near the VAT threshold can I de-register?
Are there any problems with de-registering?

ibarelycare

Hi, the form you need to fill out is the TRCN1 Form. Google it and download it. You can fill it out and sent it into your local tax office. You can stop charging VAT straight away and put today's date on it, you don't have to wait for confirmation that your VAT number has been cancelled.

Under "Reason" on the form, just write "turnover below VAT threshold" and obviously just tick the VAT box and put in your number. AFAIK you don't need to bother filling in the Assets & Equipment or Business Premises boxes, and just put a line through the boxes about Current Means of Livelihood and Limited Company.

noeleenred

You could also ring them (1890 25 45 65), give them your tax number and ask for the email address to deregister for VAT. Then email them and say from when you are de-registering and why.

Snowdrop

If you have claimed back more than you have paid in, you will have pay Revenue back. Otherwise it is quite straightforward.

an_other

Thanks for the excellent help guys.
It's easy when you know how

I didn't want to walk myself into a mess by asking revenue.

an_other

Thanks again guys. All taken care of very quick and easy.