Hello,
I am setting up a small business that I expect will take 6 months to setup before I can sell to the public. Initially, I am thinking of registering a business name and trading as a sole trader.
I need to purchase about €3,000 worth of equipment now in order to start the setup of the business. My question resolves around saving the VAT on the equipment. Can I purchase the equipment now with the cost inclusive of VAT and say eight months later claim for it? Or would I have to register for VAT now before I buy the equipment.
I would like to keep costs such as accountant/solicitor low initially until I actually start selling.
Thanks,
JP
I am setting up a small business that I expect will take 6 months to setup before I can sell to the public. Initially, I am thinking of registering a business name and trading as a sole trader.
I need to purchase about €3,000 worth of equipment now in order to start the setup of the business. My question resolves around saving the VAT on the equipment. Can I purchase the equipment now with the cost inclusive of VAT and say eight months later claim for it? Or would I have to register for VAT now before I buy the equipment.
I would like to keep costs such as accountant/solicitor low initially until I actually start selling.
Thanks,
JP