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Query re VAT registration

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  • 18-05-2016 4:09pm
    #1
    stotheototheb
    Registered Users Posts: 24 ✭


    Hello,

    I run a Guest home and have a question re VAT.

    A friend of mine informed me all B&B's should now be VAT registered.

    This came as news to me as I had not heard of any changes in VAT rules and I've been running a B&B for over 20 years.

    Can anyone provide guidance on the rules re VAT registration for B&B's and is it worthwile if optional?


Comments

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    #2
    Gloomtastic!
    Registered Users Posts: 8,480 ✭✭✭Gloomtastic!


    It's not dependent on what
    Industry you're in but what level of turnover you have.

    As a service provider, if your turnover is €37,500 or more then you should be registered for VAT.


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    #3
    Joseph
    Registered Users Posts: 1,521 ✭✭✭Joseph


    stotheototheb wrote: »
    Hello,

    I run a Guest home and have a question re VAT.

    A friend of mine informed me all B&B's should now be VAT registered.

    This came as news to me as I had not heard of any changes in VAT rules and I've been running a B&B for over 20 years.

    Can anyone provide guidance on the rules re VAT registration for B&B's and is it worthwile if optional?
    It's probably best to check with your accountant and see what he/she advises, since it will depend on your circumstances


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    #4
    Mr Clonfadda
    Registered Users Posts: 372 ✭✭Mr Clonfadda


    I am not aware of any specific requirement to register just because you are a B&B but it may be worthwhile to look at this with your accountant as the current 9% rate you would have to charge/pay may be easily offset by being able to claim back vat of up to 23% on some of your expenses


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