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

Can I seperate my accounts?

  • 01-10-2013 1:00pm
    #1
    Bilbert55
    Registered Users, Registered Users 2 Posts: 93 ✭✭


    i have 2 businesses, one is a Audio Visual Installation company and Im also a musician also,

    I registered myself as self employed 10/2012

    I never registered a business name and i've only one set of books for both businesses. I want to keep under the VAT threshold. The AV company's threshold would be 72K (supply and install) but the music is 32k (service only) and when i inquired what the threshold would be when these businesses are together - I was told i could separate the businesses, as in, make up 2 sets of books and put them though separately. Is this true??

    (I have recently registered a business name for the AV company, this come into affect today 01/10/2013)

    any help would be great!

    Thanks


Comments

  • #2
    Alan Shore
    Registered Users, Registered Users 2 Posts: 735 ✭✭✭Alan Shore


    I will ignore the references to "company" as I assume both are operated by you as a sole trader.

    An individual can only have one VAT number this will apply to all taxable trades. So first off you need to establish what you total limit is: http://www.revenue.ie/en/tax/vat/guide/registration.html#section2

    Depending on the level of install that you are doing it may be that you only have €37,500 for both enterprises.

    As the enterprises are different in nature perhaps you could set up a company to operate the AV enterprise and keep the music in your own name.


Advertisement