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VAT registration

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  • 16-06-2014 11:28am
    #1
    LMcEvoy
    Closed Accounts Posts: 4 ✭


    I've set up a hairdressing salon last February, I'm on the Back to Work Allowance and have one other employee.  Do I register for VAT, my projected sales don't show my annual Sales above €37500 per annum which I've been told is my threshold for VAT registration. Also is this €37.5k - is that turnover/sales or calculated after expenses/purchases?
    Thanks.
    Tagged:


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    #2
    LMcEvoy
    Closed Accounts Posts: 4 ✭LMcEvoy


    I've set up a hairdressing salon last February, I'm on the Back to Work Allowance and have one other employee.  Do I register for VAT, my projected sales don't show my annual Sales above €37500 per annum which I've been told is my threshold for VAT registration. Also is this €37.5k - is that turnover/sales or calculated after expenses/purchases?
    Thanks.


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    #3
    Adverts.ie: Eddie
    Company Representative Posts: 5,310 ✭✭✭Adverts.ie: Eddie


    Moved from the adverts.ie talk to forum


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    #4
    Mr. Incognito
    Registered Users Posts: 9,798 ✭✭✭Mr. Incognito


    Read the guide to VAT in the stickies


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    #5
    atrick
    Banned (with Prison Access) Posts: 7 ✭atrick


    LMcEvoy wrote: »
    I've set up a hairdressing salon last February, I'm on the Back to Work Allowance and have one other employee.  Do I register for VAT, my projected sales don't show my annual Sales above €37500 per annum which I've been told is my threshold for VAT registration. Also is this €37.5k - is that turnover/sales or calculated after expenses/purchases?
    Thanks.

    Dear Sir,

    Yes you will have to register for VAT as you have reached the exemption limit
    Your rate will be at 13.5% as you will be classified as a service.
    Then turnover for vat limit is taken as gross before any expenses are charged.

    Kind regards,

    Atrick


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    #6
    dbran
    Registered Users Posts: 2,094 ✭✭✭dbran


    No you do not have to register for VAT as I read from your post that your sales have not exceeded the threshold for registration of €37500.

    The threshold is determined from Gross sales before expenses.

    dbran


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    #7
    Leogirl
    Registered Users Posts: 455 ✭✭Leogirl


    atrick wrote: »
    Dear Sir,

    Yes you will have to register for VAT as you have reached the exemption limit
    Your rate will be at 13.5% as you will be classified as a service.
    Then turnover for vat limit is taken as gross before any expenses are charged.

    Kind regards,

    Atrick

    I believe its 9% VAT on hairdressing services.


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