I am operating as a sole trader for 3 years now. So far my yearly turnover has not exceeded the 37.5k recommended by Revenue so I have not registered for VAT.
Over the past few months I have been working on a larger than normal project which will mean my turnover for 2012 will exceed the threshold level, good I know, but this may not be the case next year!
My question is,
1. Will I need to register for VAT for the whole of 2012 or for a particular 12 month period?
2. Can I de-register next year if turnover drops? As you can understand, some of my clients are private and cannot claim back VAT so therefore this is crucial for me re fee offer.
3. Will registering & de-registering cause problems with Revenue or this this common?
Any other suggestions?
Thank you
Over the past few months I have been working on a larger than normal project which will mean my turnover for 2012 will exceed the threshold level, good I know, but this may not be the case next year!
My question is,
1. Will I need to register for VAT for the whole of 2012 or for a particular 12 month period?
2. Can I de-register next year if turnover drops? As you can understand, some of my clients are private and cannot claim back VAT so therefore this is crucial for me re fee offer.
3. Will registering & de-registering cause problems with Revenue or this this common?
Any other suggestions?
Thank you