VAT small part-time business

F

Folsom

Registered User
Messages
189
Hi

My wife recently took on a on-line sales operation that is part of a global franchise.
This is her first venture as a self-employed worker and she is doing extremely well from the off.
Her commission from the sales varies from 25% to 50% depending on volume and turnover.
As she is doing well she is exceeding the minimum threshold that then requires her to submit VAT returns. She is currently availing of the services of an accountant to do this for her. But this costs €149.00 every two months.
Is there an easier way of submitting VAT returns?
She is a sole-trader with limited products, I can imagine it would be that hard to figure out for herself and do the returns herself?
Any advice is appreciated. Thanks.
 
Maybe your wife should first look at a VAT training course. It would probably cost a couple of months of VAT returns by the accountant but would arm her with the information she would need to do it herself.

IPASS run a 1 day VAT training course which may be suitable.
 
Thanks, the course looks interesting. But VAT is not really that complicated. And in my wifes case it should be straight forward enough. Im just wondering can a self-employed trader submit their own VAT returns on-line through revenue?
 
Filing VAT returns is very easy through ROS and there is no reason someone couldn't do it themselves.

Log into ROS and click through the following-
File a return- complete a form online- select VAT- VAT3- Select period- enter figures- select direct debit if your account details are loaded and file.

Is the €149 for only filing the return or are there other bookkeeping services provided?
 
If you maintain records as you go along, its a 1 minute job to submit online.. work that out on an hourly basis for the accountant.. you may wish to retrain as a VAT submitter instead
 
Thanks guys, it is what I thought. I will explain that to my wife and save a tidy sum.
 
You must log in or register to reply here.
Back
Top