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Co-Operative Societies and VAT

  • 31-10-2010 12:37am
    #1
    civis_liberalis
    Registered Users, Registered Users 2 Posts: 3,772 ✭✭✭


    I'm one of the special members of a Co-Op that is soon to be registered with ICOS.

    The Co-Op will not have any paid employees, in the short-term in any case.

    I will be donating my time to some activities of the Co-Op but some of it would require the purchase of rather expensive software. I have managed to get around this so far using trials and other alternatives which I better not elaborate on. This isn't something I can really keep up in the long-term.

    Would it be a large undertaking for the Co-Op to register for VAT? Is it something that goes hand-in-hand with registering as a co-op anyway?

    For the sake of just one or two (albeit expensive items), I wondered if it was cost-effective.

    (I assume I've posted in the right forum)


Comments

  • #2
    Alan Shore
    Registered Users, Registered Users 2 Posts: 735 ✭✭✭Alan Shore


    What is the nature of the "business"? Are you required to register?
    Are your customers VAT registered, ie if you charge them VAT can they recover it?
    Is it worth recovering some VAT now and having to make returns and charge VAT


  • #3
    civis_liberalis
    Registered Users, Registered Users 2 Posts: 3,772 ✭✭✭civis_liberalis


    Alan Shore wrote: »
    What is the nature of the "business"? Are you required to register?
    The purpose of the Co-Op was to put a soccer club's supporters' trust on a proper legal footing. No need to go into reasons, but suffice to say, it was something that needed to be done.

    I don't think we are required to register, but I could be mistaken. I will be able to clarify that soon.
    Alan Shore wrote: »
    Are your customers VAT registered, ie if you charge them VAT can they recover it?
    As you can see, the business won't have customers in the usual sense.
    Alan Shore wrote: »
    Is it worth recovering some VAT now and having to make returns and charge VAT
    We will obviously have to make annual returns, I just have no idea what costs and hoop jumping is involved in registering for VAT.


  • #4
    Alan Shore
    Registered Users, Registered Users 2 Posts: 735 ✭✭✭Alan Shore


    Hi
    If your not in "business" you can not register for VAT. You are an exempt activity means you have to suffer VAT on your inputs.
    As a matter of interest why did you choose a Co-op verses a company limited by guarantee?


  • #5
    civis_liberalis
    Registered Users, Registered Users 2 Posts: 3,772 ✭✭✭civis_liberalis


    Alan Shore wrote: »
    Hi
    If your not in "business" you can not register for VAT. You are an exempt activity means you have to suffer VAT on your inputs.
    As a matter of interest why did you choose a Co-op verses a company limited by guarantee?
    We went through a process of speaking with different people with experience of similar situations. The pros and cons of all the options were weighed up.

    Although not an Irish organisation, Supporters Direct heavily favour the Co-op type route.


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