How soon to get company registered

sandyxxx

Hi,
I’m after attempting to monetise a hobby of mine by placing an add on done deal for my services.
....All had been quiet the last month until I accepted my first small/medium size order from an established client this week. They have indicated that I will be paid once my invoice and goods are forwarded....this would likely be a once off order.
My wife is insisting I need to register a company and get a VAT number immediately.
Setting up for this job needed the use of specialized equipment and a bit of investment in raw materials.....is there any way registering would compensate towards this.
I’m a full time public sector worker so would expect any tax to erode any potential profit I could make to reinvest into my startup.
I have zero prior business experience!
Thanks

the_pen_turner

whats the turn over for this job and potential for other jobs. that's what dictates it
I would register with the cro
set up invoices etc (even excel)
talk to an accountant

no need to vat register unless you expect to hit the limit or are planning to

sandyxxx

the_pen_turner wrote: »

whats the turn over for this job and potential for other jobs. that's what dictates it
I would register with the cro
set up invoices etc (even excel)
talk to an accountant

no need to vat register unless you expect to hit the limit or are planning to

Thanks for the advice!
I’d imagine this work will be a once off for this particular company,
It’s a a €200 job with up to a 50% profit depending on a few risk factors on an in-house manufacturing process....
The potential for expansion lies with how much time effort and money I can invest while pinning down my PAYE job,.......
The missus has an accounts background so she’ll do for now,if I were to take a career break and go at it full-time I’ll bring in the pro’s,....
Out of interest what is the “VAT limit”

the_pen_turner

37000 for services

75000 for sales ofproducts

enricoh

Registering for vat on the strength of a 200 you job - absolute lunacy. Push the business for a year, see what u are making, then decide