Simple VAT Calculations

paul7g

Hello,

I have been reading through the revenue website, trying to to get a crasp on VAT, but to no avail.

Could somebody please tell me how much VAT i would owe the revenue from the following business activities.

- built website 01 and earned: €1000 + €230 VAT (€1230)

- paid a developer in Ireland to help with website 01: €500 + €115 VAT (€615)

- built website 02 and earned: €1000 + €230 VAT (€1230)

- paid a designer in the Ukraine to help with the logo design: €500 + €115 VAT (€615)

- bought a new keyboard for my laptop in Ireland for: €30 + €6.90 VAT (€36.90)

- bought a new mouse for my laptop in the US for: €20 + €4.60 VAT (€24.60)


Thank you for your help on this.

P

hjr

paul7g wrote: »

Hello,

I have been reading through the revenue website, trying to to get a crasp on VAT, but to no avail.

Could somebody please tell me how much VAT i would owe the revenue from the following business activities.

- built website 01 and earned: €1000 + €230 VAT (€1230)

- paid a developer in Ireland to help with website 01: €500 + €115 VAT (€615)

- built website 02 and earned: €1000 + €230 VAT (€1230)

- paid a designer in the Ukraine to help with the logo design: €500 + €115 VAT (€615)

- bought a new keyboard for my laptop in Ireland for: €30 + €6.90 VAT (€36.90)

- bought a new mouse for my laptop in the US for: €20 + €4.60 VAT (€24.60)


Thank you for your help on this.

P

€460-€291.50=€168.50 owed to revenue

Loughc

hjr wrote: »

€460-€291.50=€168.50 owed to revenue

€291.50 Looks wrong.

Also OP you can only claim back Irish VAT in your Irish VAT returns and VAT on EU member states through revenue website.

Claiming back Non-EU vat is not allowed.

Loughc

Also is this your only trade for those years as currently they are well below the vat threshold so you would not need to register for VAT.

paul7g

Thank you, i understand where you got the €460 from, but where did you get €291.50 from?

No, i have other incomes so close to reaching the VAT threshold.

Q1 - So, if i buy something outside of the EU, i can't claim the VAT back?

Q2 - Can i claim the VAT back from developer expenses in Ukraine (EU)

Q3 - sorry last question... what happens if i took a total of €500 VAT in, but paid a total of €1000 in VAT (where do i stand then)?

glued

paul7g wrote: »

Hello,

I have been reading through the revenue website, trying to to get a crasp on VAT, but to no avail.

Could somebody please tell me how much VAT i would owe the revenue from the following business activities.

- built website 01 and earned: €1000 + €230 VAT (€1230)

- paid a developer in Ireland to help with website 01: €500 + €115 VAT (€615)

- built website 02 and earned: €1000 + €230 VAT (€1230)

- paid a designer in the Ukraine to help with the logo design: €500 + €115 VAT (€615)

- bought a new keyboard for my laptop in Ireland for: €30 + €6.90 VAT (€36.90)

- bought a new mouse for my laptop in the US for: €20 + €4.60 VAT (€24.60)


Thank you for your help on this.

P

You would owe 338.10

T1 - 460
T2 - 121.90

Loughc

Quick question could save us a lot of time but why are you registering for VAT?

glued

Loughc wrote: »

Quick question could save us a lot of time but why are you registering for VAT?

I doubt he is registered for VAT. Sounds like a college style question tbh.

paul7g

I am registering for VAT, because as a Sole Trader i am close to hitting €38K income on top of my normal day job.

Can someone answer these questions please:

Q1 - So, if i buy something outside of the EU, i can't claim the VAT back?

Q2 - Can i claim the VAT back from developer expenses in Ukraine (EU)

Q3 - sorry last question... what happens if i took a total of €500 VAT in, but paid a total of €1000 in VAT (where do i stand then)?

Loughc

paul7g wrote: »

I am registering for VAT, because as a Sole Trader i am close to hitting €38K income on top of my normal day job.

Can someone answer these questions please:

Q1 - So, if i buy something outside of the EU, i can't claim the VAT back?

Q2 - Can i claim the VAT back from developer expenses in Ukraine (EU)

Q3 - sorry last question... what happens if i took a total of €500 VAT in, but paid a total of €1000 in VAT (where do i stand then)?

1. No
2. Ukraine is not a member of the EU yet. They are in the process of applying.
3. You would get a VAT refund of €500

paul7g

Thanks guys. Can anyone recommend a good article on this as i don't want to pester on the forum.

Next stop... VAT refunds.

Immy

paul7g wrote: »

I am registering for VAT, because as a Sole Trader i am close to hitting €38K income on top of my normal

If i am understanding you correctly, You don't have to combine PAYE income with sole trader income for calculating the threshold.

Ex: PAYE 35000 sole trader €10,000 you don't have to reg for VAT until sole trader is above threshold, 350000 PAYE isn't taken into it.

dbran

Re your question 1) and 2) if they are for services, you will have to account for the Vat that you would have been charged on the services had they been supplied in Ireland. You also obtain a credit for the Vat suffered ie on reverse charge basis.