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VAT clawback after de-registration? Company dissolved

S. Goodspeed · 2018-01-12 10:50:30

Hi all, I was working with a company for c. 2 years, very much a start up. We were registered for VAT on a voluntarily basis as we expected to break the minimum revenue threshold but never did. We have claimed back more VAT than we paid over during that period (net c. 10k). We are now in the process of terminating the…

12-01-2018 10:50AM

#1

S. Goodspeed

Registered Users, Registered Users 2 Posts: 418 ✭✭

Join Date: April 2010

Posts: 403

Hi all,

I was working with a company for c. 2 years, very much a start up. We were registered for VAT on a voluntarily basis as we expected to break the minimum revenue threshold but never did. We have claimed back more VAT than we paid over during that period (net c. 10k). We are now in the process of terminating the company as we have run out of cash.

I have read elsewhere that Revenue will try to clawback the excess VAT claimed over the 3 year period prior to de-registration in cases like ours (voluntarily registered, never broke threshold). We don't have any cash in the company to pay any such claim (and we didnt take a penny out of it over the two years either).

Can you advise what Revenue is likely to do in this scenario?

Many thanks

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