please explain vat

roosky

Hi all,

I am not vat registered,

I have bought several things over the year some items are fixed so gates and fencing etc and i am told i can get vat back on this.

The accountant thinks i need to be claiming a certain amount to do that as in if i buy a crush for 100 euro i cant get the 230 euro back cos its not enough to claim vat.

If i buy a new piece of machinery can i claim vat back on that, when not vat registered?

Thanks for your help

cacs

roosky wrote: »

Hi all,

I am not vat registered,

I have bought several things over the year some items are fixed so gates and fencing etc and i am told i can get vat back on this.

The accountant thinks i need to be claiming a certain amount to do that as in if i buy a crush for 100 euro i cant get the 230 euro back cos its not enough to claim vat.

If i buy a new piece of machinery can i claim vat back on that, when not vat registered?

Thanks for your help

As far as I know you can't claim it back on machinery unless your vat registered. You can claim it on works to builds or land reclamation keep in mind machinery work is at 13.5%. You claim it back on fencing etc. I am not sure about the min threshold

Green farmer

Not an expert, but normally people who aren't vat registered cannt claim vat back, but farmers have an exemption to do so when they spend money on certain capital items, ie fencing and farm buildings. I think items have to be bolted down and part of the fabric of the farm building. Maybe there's a minimum spend , but I've claimed back vat on relatively small items in the past.

blue5000

roosky wrote: »

Hi all,

I am not vat registered,

I have bought several things over the year some items are fixed so gates and fencing etc and i am told i can get vat back on this.

The accountant thinks i need to be claiming a certain amount to do that as in if i buy a crush for 100 euro i cant get the 230 euro back cos its not enough to claim vat.

If i buy a new piece of machinery can i claim vat back on that, when not vat registered?

Thanks for your help

I presume that's meant to be 1000 not 100?

The minimum spend I think is €1270 on capital items, buildings, gates, permanent fencing or a piece of bolted down (fixed) equipment. Mobile machinery doesn't qualify. Not sure if the 1270 is + vat or including vat though, the receipts can be from more than one year AFAIK.

Farmer

Have a read over the form

http://www.revenue.ie/en/tax/vat/forms/vat58.pdf

Minimum claim, not spend, is 125

They will accept up to 4 years ago so if you have 2012 stuff, you need to be getting it in the post fairly rapid

raindodger

it is the total claim is over 125 not just every single item

orm0nd

raindodger wrote: »

it is the total claim is over 125 not just every single item

yes total claim (amount of vat claimed)