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register for vat?

  • 21-11-2010 5:22pm
    #1
    DarrenGT4
    Registered Users, Registered Users 2 Posts: 79 ✭✭


    im 21 and own my own articulated truck. im looking to register for vat as i will be useing the lorry for work purposes.

    Where should i start? im looking for people with plenty of experience to send me down the right route as i dont want to get ino any difficulty paying my taxes.


Comments

  • #2
    T1977
    Closed Accounts Posts: 44 ✭T1977


    If you are operating as a sole trader you will need to complete a Form Tr1 or if you have set up a limited company then it is Form TR2 and you can register for VAT on either of these forms. You should make sure that the type of work you will be doing is a VAT activity before you attempt to register.


  • #3
    Bullseye1
    Closed Accounts Posts: 5,731 ✭✭✭Bullseye1


    How much money do you need to be making to register for VAT?


  • #4
    T1977
    Closed Accounts Posts: 44 ✭T1977


    The basic registration thresholds are €37,500 for person supplying services and €75,000 for person supplying goods. See Revenue website at http://www.revenue.ie/en/tax/vat/registration/index.html for further information.


  • #5
    Toblerone1978
    Registered Users, Registered Users 2 Posts: 684 ✭✭✭Toblerone1978


    Bullseye1, please note that the amounts stated by T1977 are turnover thresholds where persons are obliged to register for VAT.

    You can opt to register for VAT if you are under this amount - it may be beneficial depending on who you expect your customers to be (i.e VAT registered customers or private individuals).

    I presume you will be self-employed, because if you are only a PAYE employee, you cannot register for VAT.


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