How long vat registration take

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To avail of this facility, your business must be established in the State. Applicants who have a business established in the State should complete the following forms online:. All paper applications received which could otherwise be completed online, will be returned to you or your tax agent. The returned application will be accompanied by a request that the application is dealt with online.

In certain exceptional circumstances, applicants who cannot avail of ROS may complete the paper version of the form and send it to their Revenue office. You can find full contact details on the Contact Us section of our website. Applicants whose business is not established in the State should submit a paper version of the following forms:.

Box 1 Wexford. VAT registration is effective from a date agreed to by your local tax district and you, after your completed application has been received by Revenue. If you elect to register , the effective date will not be earlier than the beginning of the taxable period during which you make the application. Let's start with cash accounting as this is the most popular option for smaller businesses. Using the cash accounting method, you always assume VAT is collected and accounted for at the point an invoice is paid.

Conversely any VAT on invoices you receive from your suppliers can only be reclaimed once those invoices are paid. On invoice accounting your VAT liability will arise at the point the invoice is raised not paid and the same applies for reclaiming VAT on invoices received from your suppliers.

Cash accounting is advantageous for those businesses that have a more restricted cashflow, the VAT is pegged against payments made or received ensuring that the cash is always there to cover any liability.

This is why the cash accounting method is preferable amongst smaller businesses who typically operate within smaller cashflow margins. The condition to this arrangement is that in the most part the business will not be able to reclaim any VAT on the purchases made. There are however certain exceptions to this on capital expenditure over a certain threshold. This scheme is ideal if you typically accrue more VAT on sales than on your purchases. Under these scheme you will still be asked to pay an estimated sum of VAT on a monthly or quarterly basis.

When the VAT return is filed at the end of the accounting year any adjustments are factored with any over or under payment balanced with HMRC. We are always here to help, if you have any questions or problems with your VAT application please do not hesitate to contact us.

Unfortunately, over the past few years, there have been several instances where backlogs have caused significant delays in issuing VAT numbers, and several businesses we work with at Company Bug have waited many months before receiving a response from HMRC. Thankfully, most of the time, things do appear to run fairly smoothly. Make sure you keep records of all the invoices you have received since registering for VAT, as you will be able to reclaim any VAT your company has paid out to suppliers.

If it is not easy to do so, you may decide to wait until you have your registration number and issue invoices a little later than usual. More on limited company invoices and VAT registration for limited companies. Hiscox Business Insurance Tailor your policy from Hiscox to suit your business needs.

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