Q: I will be under the threshold but want to know whether there are any real benefits to registering anyway. I offer Building Surveying services within the Irish Republic and have just set up a limited company. The VAT rate here is 21% and I am about to register for corporation tax. The threshold for VAT registration is Eur 37,000
A: Hello again DM, Strangely enough I worked for HMRC before my move back to Ireland!!! Personally, I would recommend being VAT reg if you are going to do everything by the book. It adds credibility to your business and your customers would also be able to claim back any VAT as long as they are VAT reg. Depending on the amount of supplies (if any as you are providing services) you purchase you will also be able to claim back any incurred VAT. However, as the previous poster advised, it is well worth getting sound financial advice from a recognised professional. Hope this helps
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