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Buying in Northern Ireland

  • 20-05-2013 2:48pm
    #1
    restive
    Banned (with Prison Access) Posts: 1,066 ✭✭✭


    If i buy equipment in Northern Ireland, is it dealt with any different when doing my accounts for the year? For instance something like VAT?


Comments

  • #2
    DMAXMAN
    Registered Users, Registered Users 2 Posts: 328 ✭✭DMAXMAN


    restive wrote: »
    If i buy equipment in Northern Ireland, is it dealt with any different when doing my accounts for the year? For instance something like VAT?
    if you buy in the north you pay their vat which is 20%. they generally quote prices ex vat. as regards your accounts it will be treated the same as if you bought it here.


  • #3
    Juniorhurler
    Closed Accounts Posts: 1,363 ✭✭✭Juniorhurler


    DMAXMAN wrote: »
    if you buy in the north you pay their vat which is 20%. they generally quote prices ex vat. as regards your accounts it will be treated the same as if you bought it here.

    But if you are vat registered here you don't pay their vat at the point of purchase. You give them your vat number and they don't charge it. Then when doing their vat returns to HRM revenue they fill you in as an EU sale on their paperwork and the vat is exempt.


  • #4
    freedominacup
    Registered Users, Registered Users 2 Posts: 7,920 ✭✭✭freedominacup


    restive wrote: »
    If i buy equipment in Northern Ireland,

    Be very careful. Talking to a friend last night a relation of his has a tractor dealership in Cork. They had 2 fresh secondhand tractors stolen from their yard last September. Specialist garda from the unit who handles this sort of theft tracked them down in N.Ireland. They had been re-reged with MH number plates that matched the model and year and the serial numbers had been changed. They hooked up to the computer on board to confirm the identity of the machines in the end. Just saying...


  • #5
    restive
    Banned (with Prison Access) Posts: 1,066 ✭✭✭restive


    Thanks for the replies. Nothing as expensive as a tractor. Just a Jarmet sprayer I got from whites. I paid €1,250 for a 400 litre one and had a quote of €1,500 here in the republic. I was just trying to see if the difference was going to be made up in my accounts.


  • #6
    lakill Farm
    Registered Users, Registered Users 2 Posts: 4,735 ✭✭✭lakill Farm


    Increase of Equipment of €1,250
    Deprecation for year (Probably 12.5%)
    Capital allowance of €156.25 for the year

    If you paid for courier or collection expenses can be added to the cost of equipment also.


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