Here at Sage we understand VAT can keep our customers awake at night. With the new Sage 50 Accounts 2014 – The VAT Edition we listened to our customers and made it simple. We have redesigned our VAT return in order to make it easier for our customers to complete.
VAT impacts on almost every business transaction in Ireland. Even businesses which are not obliged to charge VAT on their sales will be obliged to pay VAT on a lot of their costs.
By Darren Bracken, L & D Product Trainer & Coach at Sage VAT registered businesses submit their VAT3 form at various times throughout the year. The main thing is that all VAT registered businesses at some point in the year submit a VAT3 form. Customer feedback indicated a lack of awareness around this new change […]
Under the cash received basis a trader issues an invoice to a customer in the usual way. When payment is received for this invoice the VAT is accounted for on the traders VAT return.
Businesses making total annual VAT payments of less than €3,000 are eligible to file VAT returns and make their payments on a 6 monthly basis i.e. 2 returns per annum.
Survey shows 28% of companies don’t understand benefits available to them. Budget 2013 increased the turnover threshold for cash-based VAT accounting from €1 million to €1.25 million, giving hundreds more companies the opportunity to manage their tax bills more efficiently.
If you are VAT registered in Ireland you can buy goods VAT free from another business in the EU once these goods are for the purpose of your business.
DBASS Chartered Accountants have designed an infographic to outline the main changes in Finance Act 2012. Download the infographic here.
We have produced a handy infographic to help you get your head around the VAT increase. If you are sending out any invoices this month and are not sure what VAT rate to charge, have a look at the infographic which should answer your questions. We also have a handy PDF of the infographic that you can print out and put on your desk.
Well they’ve really gone and done it this time – unless you’ve been hiding out in your survivalist bunker, you’ll know that VAT has hit a jaw-dropping 23%. Of course, change is the new routine. It was only back in May that the Jobs Initiative dropped VAT to 9% for a whole range of goods […]