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Start a online business with no VAT

  • 10-09-2014 01:49PM
    #1
    jcdsr1
    Registered Users, Registered Users 2 Posts: 6 ✭


    Hi, I have a full time job, I wondering If I can start a online shop without a vat? Mainly products will be dropshiped from US. Of course if the business go well I will register, It just a big risk to spend so much money in open a business. What will be the best way to run this?


Comments

  • #2
    Skybox
    Registered Users, Registered Users 2 Posts: 109 ✭✭Skybox


    You wouldnt' have to register for VAT until you go over certain thresholds of sales currently €75,000 a year assuming you are based in Ireland and selling in Ireland. Don't forget to take into account any custom charges that may be payable on importing goods from outside the EU.


  • #3
    jcdsr1
    Registered Users, Registered Users 2 Posts: 6 ✭jcdsr1


    Thanks "Skybox"

    I will sell around the world, in different countries in fact. Also would my salary income affect this threshold?


  • #4
    jcdsr1
    Registered Users, Registered Users 2 Posts: 6 ✭jcdsr1


    Thanks "Skybox"

    I will sell around the world, in different countries in fact. Also would my salary income affect this threshold?

    If a user located in USA for instance buy on my website and ask for a Bill? What number I should use? Can I use my pps?

    I have so many question? I hope to get all the help I need?


  • #5
    Skybox
    Registered Users, Registered Users 2 Posts: 109 ✭✭Skybox


    Your salary income will not affect the threshold. This threshold is for sales. You will pay income tax on the profits made on the business. You must register for income tax and your PPS number would go on the invoice (although it may not strictly be necessary, I'm not sure)

    A good accountant will be able to help you out with all of your questions and can answer other questions that you probably haven't even thought of yet!


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