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VAT and education query

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  • 24-04-2017 10:09am
    #1
    Dr Ed
    Registered Users Posts: 5 ✭


    I am setting up an online education company and as such will be VAT exempt. My query is about purchasing an IT platform from a UK company; do I need to register for VAT because this is a product from outside Ireland? Will I be able to recoup this VAT?


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


    Dr Ed wrote: »
    I am setting up an online education company and as such will be VAT exempt. My query is about purchasing an IT platform from a UK company; do I need to register for VAT because this is a product from outside Ireland? Will I be able to recoup this VAT?

    Have Revenue confirmed that you are exempt from charging VAT? It could be very costly to you and your business if you start trading and discover you are not exempt.


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    #3
    antoinolachtnai
    Registered Users Posts: 9,793 ✭✭✭antoinolachtnai


    If you are buying something that is subject to VAT and you are subject to VAT, then you cannot generally claim back VAT on your inputs.

    It is very important to understand your VAT situation, as the previous poster has stated. At a very minimum, you need to read and understand http://www.revenue.ie/en/tax/vat/leaflets/vat-and-education.html . Really, you need professional advice.


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    #4
    Dr Ed
    Registered Users Posts: 5 ✭Dr Ed


    Thank you both. I will not be trading for a few months, but need to purchase stuff now. I will try to get clarity from Revenue on my position re VAT.


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