Internet Business/Vat rules

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riverbed

Registered User
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Hi forgive me if these questions seem basic
I am researching the idea of setting up a web bassed retailing idea.
I have four questions regarding Vat.

Am I correct in saying the legal threshold for turnover where it becomes mandatory for Vat Regestration is 75000.Can you however register for Vat anyway, and just get it out of the way even if your turnover fell short of this figure, and would there be any disadvantage to doing this.

If goods are sourced in the UK or North, at the point of purchase in say a Wholesaler in Newry if I present an Irish Vat no, can I make the purchase less the Vat or do I indeed pay the UK Vat and then reclaim the Vat from HM customs.

If I purchase goods in a Dublin Wholesaler again, do I pay the Vat at the point of leaving the Wholesaler, and then reclaim it from the Revenue Commissioners, or do I give evidence of my Irish Vat no, and not pay the Vat part at that time.

On foodstuffs/household items/etc my sales to customers tro my site must inclue a collection of Vat for the Revenue Commissioners, is 21% the rate I charge.

Can I retail as a Soletrader, or must I be a Company to operate

Thanks Riverbed
 

If you apply for a vat number you will have to fill out the VAT returns & charge VAT to your customers


If goods are sourced in the UK or North, at the point of purchase in say a Wholesaler in Newry if I present an Irish Vat no, can I make the purchase less the Vat or do I indeed pay the UK Vat and then reclaim the Vat from HM customs.
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You would get the items VAT free by giving your irish VAT number, if you have no irish VAT number you will have to pay UK VAT

You have to account for UK/EU purchased goods (and sales) on your VAT3 return


If I purchase goods in a Dublin Wholesaler again, do I pay the Vat at the point of leaving the Wholesaler, and then reclaim it from the Revenue Commissioners, or do I give evidence of my Irish Vat no, and not pay the Vat part at that time.
Click to expand...
You pay irish vat and reclaim it against your sales vat on your vat3 return


On foodstuffs/household items/etc my sales to customers tro my site must inclue a collection of Vat for the Revenue Commissioners, is 21% the rate I charge.
Click to expand...
Check your goods against this list

http://www.revenue.ie/en/tax/vat/rates/


Can I retail as a Soletrader, or must I be a Company to operate

Thanks Riverbed
Click to expand...
You can be either, you need to look at the administration requirement for a company which can be a pain,

You need to consider the personal liabilities if you're a sole trader, faulty goods, people being injured by them etc
 
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