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Taxation and Vat for a new business

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  • 31-07-2010 5:53pm
    #1
    waynestledger
    Registered Users Posts: 72 ✭✭


    Hi, I am starting a new business doing odd jobs; I am just wondering at what stage I need to pay tax on my earnings.

    I have looked on www.revenue.ie but I can’t seem to find a concise answer.

    I also need to register for VAT, is it worth wile to this even though my turnover will be less than the required amount.

    Any help would be appreciated.

    Regards
    Wayne
    Tagged:


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    #2
    J.Ryan
    Registered Users Posts: 474 ✭✭J.Ryan


    Each tax year ends on 31 December, you need to submit your tax return to the revenue by 31 October (if paper return, approx 2 weeks later if pay and file online) with payment and preliminary tax payment for the current year.

    As regards VAT, its hard to say without more information, it is an additional burden, but if your customers are VAT registered it won't matter.

    If you've more questions feel free to PM me.


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