Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Beginner VAT questions - any input appreciated!

  • 14-08-2020 10:58am
    #1
    Durtburd
    Registered Users, Registered Users 2 Posts: 39 ✭


    Hi all

    I am a PAYE worker and about 6 months ago I began working as a self employed subcontractor in addition to my 9-5 job.

    I have some questions about VAT.

    I haven't registered for VAT and am not sure I will. My annual turnover will never exceed 10-12k.

    As I'm a subcontractor, my contractee handles the VAT payable by the end consumer for the goods and services delivered by me. If I register for VAT, I will need to invoice my contractee for the VAT on my fees - correct? Would this be necessary in light of the fact that I don't reach the VAT threshold?

    If I register for VAT, can I reclaim VAT on eligible expenses incurred before I registered?

    Do I need to invoice for and pay a certain amount of VAT before I can then reclaim VAT on my own expenses?

    I'm thinking of purchasing an electric car for this business. I believe the max VAT reclaim on this would be 20% of the VAT paid (if paid on the transaction at all) - is this correct?

    What if I were to buy a 'VAT qualifying car from the UK - could I reclaim any more?

    I'd appreciate any advice anyone can give me as I haven't got a clue about any of this!!


Advertisement