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help with TR1 form to register for vat

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  • 26-07-2018 7:45pm
    #1
    Registered Users Posts: 3,739 ✭✭✭


    So got this handed to me but didn't look at details until back home, anyway i want to start business as sole trader and just register for VAT, which section i should complete general details seems straight forward, as ill be operating as sole trader as it has 4 sections, one for vat, registration for income tax (non paye),registration as en employer for paye prsi and registration for contracts tax.


    So i sort of figured that only need to fill out VAT part as rest is irrelevant but not sure about one in bold, as im applying for BTWEA.



    And on vat section it asks for reason why im registering for vat, one states you want to be a taxable person, and third one is your are in receipt of business to business services and attach invoice,where reverse vat charge applies - again this one confuses me as ill be buying materials and providing product to customers, but am not sure do i need to calculate vat into my pricing and since not in business what invoice do i attach is it for equipment i acquired as most of it wasnt bought under my name directly ?


    And are you applying for cash receipts basis on accounting for goods and services if yes its gives two options one turnover will be less then 2mill, other 90% expected annual turnover will be from good supplied to non registered customers.



    One more state the expected annual turnover from supplies of taxable goods or services within state - input amount ? do i put in my expected turnover over the year for any sales ?



    also while still on topic anyone know is it worth the hassle getting public liability insurance, i will have workshop in my home its a print business type ill be running but dont expect to bring in customers as will be traveling to customers, once design done just design order for customer and deliver results to them, so not really expecting walk-ins.



    I know this is a bit all over the place and handful to read but any input to related questions is appreciated.


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