Vat Question

[Dope]

We have a small company started, registerd for vat. When we buy from our supplier we pay vat. My question is do I add vat onto the gross price I paid to the supplier before I charge the customer or just add my profit %.

 

[hhhhhhhhhh]

We have a small company started, registerd for vat. When we buy from our supplier we pay vat. My question is do I add vat onto the gross price I paid to the supplier before I charge the customer or just add my profit %.

You make up any price you want to charge the customer and then add 21% VAT.

 

[runner]

Normally a company adds a markup % to the net price, and then ad vat.

 

[Dope]

Thanks, I was doing it right, but it's nice to be sure.

 

[DavyJones]

You only add 13.5% if it is a service you provide and 21% if its goods.

 

[mathepac]

You only add 13.5% if it is a service you provide and 21% if its goods.

Not necessarily - refer to previous posts.

My accountants and solicitors provide me with services and charge 21% VAT.

 

[Joe1234]

Not necessarily - refer to previous posts.

My accountants and solicitors provide me with services and charge 21% VAT.

Correct. The revenue website has a list of the vat rates for many products on www.revenue.ie so if you check it out, hopefully it will give you the correct rates of vat that you should be charging.