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VAT registration as sole trader

  • 30-01-2013 9:14pm
    #1
    nacho66
    Registered Users, Registered Users 2 Posts: 175 ✭✭


    Hi guys

    I've been working as self employed sole trader since January 1st 2012. I of course registered for income tax sometime last year, even paid some preeliminary tax (which is not required in the first year). I need to register for VAT for 2013 now. I may reach the threshold this year, besides, want to save VAT on electronics required for my work (need to do few purchases this year).

    The thing is, VAT registration is only a small section of form TR1. Do I have to fill out all form again, as I did when I registered income tax, which means duplicating lots of details? Or just the VAT section?

    Also, another question. If I have to fill whole form again, I'll need to enter estimated gross income for 2013. However, a little problem is that I'm not quite sure I'll do the whole year as self employed. If I do, I will make the VAT threshold, which is one of the reasons I'm registering for VAT. But I also may become PAYE employee around June. Can I just enter estimated income for those 6 months? And then pay the tax balance before Oct 2014?

    Thanks for advice


Comments

  • #2
    nompere
    Registered Users, Registered Users 2 Posts: 1,678 ✭✭✭nompere


    You have to fill out the personal details and the VAT sections - nothing else.

    The estimated income figure is used to help them decide on the frequency you will have to file returns - but there are no consequences to over or underestimating your turnover.


  • #3
    nacho66
    Registered Users, Registered Users 2 Posts: 175 ✭✭nacho66


    nompere wrote: »
    You have to fill out the personal details and the VAT sections - nothing else.

    The estimated income figure is used to help them decide on the frequency you will have to file returns - but there are no consequences to over or underestimating your turnover.

    Whole Part A of the form is called General Details. It consists of subsections: Individuals (which actually looks like personal details, names, pps, civil status etc), Partnership and Business Details. Where Business details is the section that applies to Self Employment details like legal format or expected turnover. Then Part B is registration for Income Tax, Part C is registration for VAT. So what you're saying is fill out just Individuals part of Part A (General Details) and then whole Part C? Will they then match my self employment and income tax details by pps no. or something?


  • #4
    Johnmb
    Closed Accounts Posts: 2,150 ✭✭✭Johnmb


    nacho66 wrote: »
    Whole Part A of the form is called General Details. It consists of subsections: Individuals (which actually looks like personal details, names, pps, civil status etc), Partnership and Business Details. Where Business details is the section that applies to Self Employment details like legal format or expected turnover. Then Part B is registration for Income Tax, Part C is registration for VAT. So what you're saying is fill out just Individuals part of Part A (General Details) and then whole Part C? Will they then match my self employment and income tax details by pps no. or something?
    Yep. And once you're registered for VAT, your PPS number will also become your VAT number.


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