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Vat or no vat ????

  • 14-08-2016 10:44pm
    #1
    90JIM
    Registered Users Posts: 5 ✭


    I am currently register as a sole trader for the bit of buying and selling I do and I am not vat registered so I don't charge vat.

    I have got the offer of contracting myself in for upcoming work, the guy I will be working for is vat registered he said it will be cos of labour plus vat, my question is would it make any difference if I wasn't vat registered could I just charge labour? Or would I be better getting vat registered?

    Thanks


Comments

  • #2
    tanit
    Registered Users, Registered Users 2 Posts: 325 ✭✭tanit


    I don't understand the question are you being subcontracted by someone to do a job? In that case that falls under RCT and he is your principal and you the subcontractor and there is no VAT involved in that transaction between the two of you. There is the reverse charge that the principal needs to do/account for.

    If the other guy is a customer and you are not Vat registered there is no need to charge Vat. Regarding being Vat registered if you don't reach the Vat thresholds I wouldn't bother registering the amount of paperwork involved is not worth it for a small sole trader. For services (I'm guessing that's what you do) the threshold is 37,500 euros per year you can read more about it at Revenue's website "Vat Registration"

    I hope this helps


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