That's incorrect. If you now expect your turnover to exceed the threshold over the next 12 months, you must register NOW.Thanks KlausFlouride that's great we can elect to register anytime and that's why I want to be sure
That's incorrect. If you now expect your turnover to exceed the threshold over the next 12 months, you must register NOW.
It is compulsory, not voluntary, and Revenue will make short work of you if your turnover exceeds the limit for a year where you haven't registered.
A crazy system for tiny businesses but there you go.
Electing to register and compulsory registration are mutually exclusive.I think you may be misreading what Klaus said. The statement is correct, you can elect to register anytime, but subject to compulsory registration as you (also correctly) point out in certain circumstances.
The threshold is 36500 + vat at the relevant level for your goods/services.
So for painting (13.5%?) your turnover would need to exceed about €41,000 before it is mandatory
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