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Photo Editing Service & What Tax?

  • 14-06-2020 7:58pm
    #1
    unicorn97
    Registered Users, Registered Users 2 Posts: 14 ✭


    I recently turned what was a hobby of mine into a mini-business with a website offering a photo editing service.
    Customers can pay through PayPal for the work they would like done after we’ve spoken and discussed prices and timeframes.
    I’m just wondering what tax I am obliged to make off of the money I earn doing this work.
    I would assume the regular rate of 23% VAT?
    If so, how do I go about this? Is there a way for PayPal to deduct this out of the fee paid to me?

    Any advice on this would be very helpful as I’ve only started out and learning as I go!


Comments

  • #2
    y0ssar1an22
    Registered Users, Registered Users 2 Posts: 17,750 ✭✭✭✭y0ssar1an22


    You dont need to register for VAT unless it looks like your turnover will exceed €37,500.

    You can still elect to register for VAT if you wish, but its an added layer of compliance.

    if you do elect to register, your invoices should show the net, vat and gross figures. You can then also claim the VAT back on any business purchases.

    if you do register the vat rate to charge on your sales should be 23%:

    PHOTOGRAPHY ( Processing )
    Rate
    Reduced rate: 13.5%

    Remarks
    Reduced applies where photographic prints, slides or negatives are supplied to a person, having been produced from goods (e.g. a roll of film or memory card) provided by that person. However, the Standard rate applies when it is supplied on e.g. CD, DVD, over the internet etc.


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