help please. new business

beller10

Hi,

i am starting up a new business i probably didnt do enough research but i had to act fast on a deal so didnt have the time to research enough. i have two questions.

1. i have a businees name only and the invoice for the goods i have paid for are to this name but in about three weeks i will be paying vat and duty on the goods is it possible for me to claim vat back on the goods i know i have to get a VAT number but am i automatically eligible for one and wll i still be able to claim the VAT even though it was not setup when the goods left.

2. is it very difficult to setup a business bank account.

sorry for what might be silly questions.

thanks

dbran

Hi

You are eligable for a vat number once you are engaged in a business activity with is subject to VAT. You will also have to charge vat on all of your sales so you need to be careful in case this is the right thing to do.

You will need to provide photo Id and a utility bill as well as a certificate of business name from the cro.

Kind Regards

dbran

beller10

thanks for getting back to me. so if i have a company name does that mean i automatically have a VAt number or do i have to register for a vat number.

dbran

No you need to register for vat using from tr1 from revenue. You are not automatically registered.