Vat number ? Can i use someone else

Angelspirit

Hi
I need a VAT number to purchase stock for my online business
This is the only supplier i have that is looking for one and i dont legally need one - yet

What can i do or is there anything i do to get supplies from this supplier as i love the stock

Could i use someone elses ??
Thanks

nazzy

Angelspirit wrote:

Could i use someone elses ?? Thanks

No. That's VAT Fraud.

You'll have to pay the VAT/Duty unless you register for VAT.

Angelspirit

nazzy wrote: »

No. That's VAT Fraud.

You'll have to pay the VAT/Duty unless you register for VAT.

So do i just wait for it ? Why would that supplier asking when no one else is

Stanford

If you are not registered for VAT then you are liable to pay it, the supplier is asking for your VAT number so that their own VAT records are correct

my3cents

Angelspirit wrote: »

So do i just wait for it ? Why would that supplier asking when no one else is

Sometimes a supplier will insist on a VAT number as a way of stopping Joe Public from ordering stuff from them. If all their other customers pay VAT then in may also just be part of the process that the company has evolved over the years.

Have you asked them?

Angelspirit

my3cents wrote: »

Sometimes a supplier will insist on a VAT number as a way of stopping Joe Public from ordering stuff from them. If all their other customers pay VAT then in may also just be part of the process that the company has evolved over the years.

Have you asked them?

No not yet ,my other suppliers are wholesalers in England,this supplier is here in ireland - plus its kids clothes - are these products vat free

Stanford

They are not VAT FREE, they are zero rated which means they still need to be recorded in a VAT return

Angelspirit

Stanford wrote: »

They are not VAT FREE, they are zero rated which means they still need to be recorded in a VAT return

Thanks for all your help x

Idioteque

My understanding is...If you're registered as a sole trader and you aren't registered for VAT (which is fine obviously), you can use your PPS number instead if the supplier or customer looks for a VAT number and you're not VAT registered. You're using this as your tax registration number though and should make it clear you're not VAT registered as you're below the threshold.

You will however still have to pay the VAT given your not registered.

Angelspirit

Idioteque wrote: »

My understanding is...If you're registered as a sole trader and you aren't registered for VAT (which is fine obviously), you can use your PPS number instead if the supplier or customer looks for a VAT number and you're not VAT registered. You're using this as your tax registration number though and should make it clear you're not VAT registered as you're below the threshold.

You will however still have to pay the VAT given your not registered.

Ok thats something i didnt know - thanks so much x

BarryD2

Angelspirit wrote: »

No not yet ,my other suppliers are wholesalers in England,this supplier is here in ireland - plus its kids clothes - are these products vat free

For clarity, your wholesaler in Ireland (Republic) can issue you with a VAT invoice or receipt. You pay any VAT due when you settle. Then if you are registered for VAT, you make a return quarterly or annually for VAT. In this you offset the VAT you've paid against that which you collect. That last bit is important, once you register for VAT, you must charge YOUR customers VAT at the appropriate rate and then keep this for payment to Revenue. This could make your products more expensive. If your business is profitable, you'll *always* collect more VAT than you pay suppliers.

With other EU suppliers, you can give them your VAT number and they will supply to you ex VAT. This is an Intra EU arrangement but the figures must be entered on your VAT return.

So Irish suppliers don't need your VAT number as they'll charge it anyway. Only other EU suppliers as that number needs to be given to their tax authorities.