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Contracting for US company

  • 18-10-2010 2:22pm
    #1
    jk03
    Closed Accounts Posts: 8 ✭


    Really hoping that someone can help me with this. (And yes, I feel very foolish for not looking into this better beforehand)

    I was working living and working in the US for a US company. I had to return to Ireland for personal reasons. The company asked if I would stay on as a contractor. - I agreed. I provide them with a bill for my hours every month, and then send a cheque to me.

    I'm trying to do my taxes, and I'm seeing mention of VAT. I had *no* idea that I may be liable for VAT and have certainly not been charging them any :( (I'm an idiot)

    What is my situation? Am I in big trouble with a big tax bill? :(

    Do I have to pay VAT when the company I am "working for" is not an Irish/VAT company?


Comments

  • #2
    dbran
    Registered Users, Registered Users 2 Posts: 2,094 ✭✭✭dbran


    Hi

    If the company is based outside the EU then there is no VAT applicable.

    Kind Regards


    dbran


  • #3
    jk03
    Closed Accounts Posts: 8 ✭jk03


    Hi dbran,

    Thanks for getting back to me.
    Are you sure about the VAT? I'm am hoping that you are!

    Also, do I need to register for VAT and then not charge any VAT, or should I just not register for VAT at all?

    Also, does this affect if I can claim back on rent/electricity etc since I work from home?

    Thanks again,

    jk03


  • #4
    smcgiff
    Closed Accounts Posts: 5,943 ✭✭✭smcgiff


    Howdy,

    I'd say you're going to have a number of questions.

    Yes you can claim a portion of your ESB etc. Be very careful of claiming part of your mortgage payment if you ever own your home as this will potentially affect its capital gains tax status.

    You might do yourself a favour and pop into your local accountant, probably wouldn't cost too much going by what you've said and will give you broad ranging advice.


  • #5
    jk03
    Closed Accounts Posts: 8 ✭jk03


    Thanks smcgiff.

    I'm looking for an accountant online at the moment. Too many unknown questions.


  • #6
    dbran
    Registered Users, Registered Users 2 Posts: 2,094 ✭✭✭dbran


    Hi

    You will have to register for VAT if you are over the threshold. But then the VAT on your sales to the US will be zero rated.

    As smcgiff said you have a lot of questions that would require some face to face time with an accountant rather then just once off posting on the forum.

    Best of luck.

    Kind Regards


    dbran


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