Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

hypothetical VAT query

  • 29-04-2012 7:04pm
    #1
    donfers
    Banned (with Prison Access) Posts: 4,006 ✭✭✭


    Guys, I am aware people don't need to register their products/services for VAT unless they turnover a certain amount per year, 37,500 i believe or something like that

    Anyway what would happen if somebody stuck an e-book on amazon or clickbank thinking it would only sell a few and then say after a couple of months, it got endorsed by some celeb or something and went viral and suddenly he was over the turnover threshold for VAT when he genuinely thought there was zero chance this would happen


Comments

  • #2
    Daxve
    Registered Users, Registered Users 2 Posts: 164 ✭✭Daxve


    You just register for VAT when it becomes clear that you are going to break the threshold. There are no implications for sales before that point - you do not charge VAT and you can't claim for VAT incurred by you.

    The threshold for goods is €75,000 and services are €37,500 in a 12 month period - not per calender year. If in a VAT period 2 months you exceed 1/6 of the threshold - (€6250 services or €12,500 goods) it should be a strong indication that you will need to register if it happens again the following period you should register for VAT. If sales suddenly fell off and you aren't going to reach the threshold just de-registered again however any VAT you have reclaimed will be clawed back if you do not remain registered for 3 years.

    The supply of e-books is a supply of services chargeable at the standard rate.


Advertisement