Registration of company for VAT

cruhoortwunk

How do I register a new company for VAT? The revenue site is not user friendly at all. It says here http://www.revenue.ie/en/online/eregistration/faqs.html I should do it online on PAYE Anytime.
'PAYE Anytime Users:
You can register online by logging into your account and selecting "Register for Income Tax" on the left hand side of the current years screen e.g. 2012.'
But on my PAYE anytime, there is nothing on the left to say 'Register for income tax'.
I just finished up with my employer last Friday but I still see mentions of them, so maybe I need to have them deregistered from my account before I will get the option?
Edit: it seems businesses use ROS rather than PAYE anytime.

jimmii

TR1 form should do the job. Register for ROS and you use that for filing every other month.

capefear

TR2 is for companies

EganTheMan

Bear in mind that you only need to register for VAT above a certain threshold?

cruhoortwunk

EganTheMan wrote: »

Bear in mind that you only need to register for VAT above a certain threshold?

Yep, I'll be going over that

EganTheMan

Threshold:

75K for goods

37.5K for Services

from Revenue Website

NotaSheep

Sound advice all above. If you are a sole trader your PPS number will be your VAT registration number, if you are going ltd company you will get a new number.

If you are going to be selling to other businesses, it is an advantage to be VAT registered as they are likely to be VAT registered themselves and can offset the VAT against their bills. If you are selling to ordinary folk, it is better to wait to hit the threshold. You'll be that bit cheaper and have less paperwork to contend with.

RUDOLF289

NotaSheep wrote: »

Sound advice all above. If you are a sole trader your PPS number will be your VAT registration number, if you are going ltd company you will get a new number.

If you are going to be selling to other businesses, it is an advantage to be VAT registered as they are likely to be VAT registered themselves and can offset the VAT against their bills. If you are selling to ordinary folk, it is better to wait to hit the threshold. You'll be that bit cheaper and have less paperwork to contend with.

I think, if you know that you are likely to exceed the threshold, it might be best to register for VAT from the beginning. First of all there may be start up expenses (e.g. furniture, computers etc) that you are entitled to claim VAT bak on as a VAT registered trader. Also, your cost base will be 23% higher because you can not claim the VAT back on your purchases (presumably you buy in products to sell on). Especially if you intend to deal with VAT registered entities, they want a VAT invoice because the VAT on your invoice is a deductible input.

It might be advisable to have a word with an accountant. Usually the first consultation should be free.

Best of luck in your new venture

Cheers,
Rudolf289

cruhoortwunk

Actually its hard to say if I will go over the VAT threshold. It's IT contracting, and if I was in til the end of the year, I would be over it. But it's a short term contract initially, so I may leave off the VAT reg for now, and see if the contract is extended.