Vat registration

L

L4235

Registered User
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Hi,

Just starting off in market trading and have found a great low cost wholesaler. Problem is I need to be vat registered to buy from them. I won't be earning much to begin with & vat registration generally is only for €37500 & over..

Any advise as of what to do?

If I do vat register will I have the tax man checking my earnings etc even though I'm not interested in claiming vat I just need the number.

Any help is really appreciated.

Thanks :)
 
Firstly, I'd get confirmation that this wholesaler will only deal with you if you are registered for VAT. I can't think of any disadvantage to them if you are not VAT registered. Perhaps they are looking for proof that you are in business.

If you are registered for VAT you must charge VAT on your sales. Consequently, you would then be able to reclaim VAT charged to you on your purchases. You must also make periodic returns of VAT charged and reclaimed to Revenue.
 
Personally I think that the "need a VAT number" rule is to filter out lower level turnover customers.

If a major charity rocked up to buy €100k worth of product I don't think they would be turned away.

What are your margins like?
 
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