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Musician VAT charges

  • 24-05-2013 11:43am
    #1
    Mickery
    Registered Users, Registered Users 2 Posts: 91 ✭✭


    Hi all, any help appreciated.

    Is there a way to set up a band so that you don't have to charge VAT for gigs?

    Say if each musician invoices the pub separately as a contractor or something?

    So a four piece band would combine four individual invoices in one document.

    Is this possible?


Comments

  • #2
    Fandango
    Registered Users, Registered Users 2 Posts: 795 ✭✭✭Fandango


    Honestly man, I dont think most musicians (certainly not me anyway) would have a clue. Maybe someone in a covers/tribute band that play regularly but I'd say you would be better talking to an accountant or someone like that about something like this.


  • #3
    Mickery
    Registered Users, Registered Users 2 Posts: 91 ✭✭Mickery


    Thanks Fandango :)

    I was thinking the same thing so I reposted in the accounts section.

    Here's the link if anyone is interested:

    http://www.boards.ie/vbulletin/showthread.php?p=84832689


  • #4
    maccored
    Registered Users, Registered Users 2 Posts: 10,748 ✭✭✭✭maccored


    you only need to charge VAT if you are generating over a certain income. basically your band should be a tax registered business. Some business register for VAT if they buy in a lot of material to resell, so they can claim back the VAT on the material they bought.
    the question you need to ask is do you need to charge VAT in the first place.
    What is the turnover threshold for VAT registration?

    The principal thresholds applicable are as follows:

    (a) €37,500 in the case of persons supplying services,
    (b) €37,500 for persons supplying goods liable at the reduced or standard rates which they have manufactured or produced from zero rated materials,
    (c) €37,500 for persons making mail-order or distance sales into the State,
    (d) €41,000 for persons making intra-Community acquisitions,
    (e) €75,000 for persons supplying goods,
    (f) €75,000 for persons supplying both goods and services where 90% or more of the turnover is derived from supplies of goods (other than of the kind referred to at (b) above) and
    (g) A non-established person supplying taxable goods or services in the State is obliged to register and account for VAT irrespective of the level of turnover.
    A taxable person established in the State is not required to register for VAT if his or her turnover does not reach the appropriate threshold above. However, they may opt to register for VAT.


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