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Registering for VAT

pg141 · 2013-07-10 22:32:07

Hi guys/girls Looking for some advice, both my wife and I are PAYE workers and we want to start doing some part time farming, we are looking to register for VAT and are just wondering what the implications are if any on our wages or tax credits etc, Also By registering for VAT do we effect our ability to draw social…

10-07-2013 10:32pm

#1

pg141

Registered Users, Registered Users 2 Posts: 70 ✭✭

Join Date: February 2006

Posts: 63

Hi guys/girls

Looking for some advice, both my wife and I are PAYE workers and we want to start doing some part time farming, we are looking to register for VAT and are just wondering what the implications are if any on our wages or tax credits etc,

Also By registering for VAT do we effect our ability to draw social welfare payments if one of us is lose our job? Or is there any other negative impact on us?

Thanks in advance

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Comments

#2 11-07-2013 8:27am

nompere

Registered Users, Registered Users 2 Posts: 1,678 ✭✭✭

Join Date: December 2006

Posts: 1647

In general farmers are not obliged to register for VAT. Instead they receive a flat rate addition to their sales to compensate them for the loss of input credits.

VAT registration, of itself, is irrelevant so far as PAYE and social welfare are concerned.

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