I'm setting up to be self-assessed. Just starting a nixer where
I will be a freelance editor/proofreader of academic journals.
I've been searching through the revenue site, but can't work it out whether I should charge VAT on this service or is it one that might be exempt. If VAT is chargeable is it the 13.5% rate?
Persons supplying taxable goods or services in the course or furtherance of business must register and account for VAT if their turnover is in excess of certain limits. The main annual limits are:
€25,500 for persons supplying services
€51,000 for persons supplying goods.
If you fall under the €25,500 above, then do not register
Ok, I'm pretty sure I won't go above the €25,500 limit in the year, maybe something like €12K.
It's my understanding them that I don't have to register for VAT. Then I shouldn't have to charge VAT right?
If so, how does the tax-man get his money?