VAT Overview

 

If your company is operating a business in Ireland, selling a vatable product or service and you exceed the turnover thresholds  then you are obliged to register for VAT. It is a legal obligation to register if your turnover exceeds these thresholds.  If you go above these thresholds and do not register the Revenue Commissioners can register you themselves. Then they will charge you VAT on your sales on the basis that you should have been charging vat for the whole of the year that you first exceeded the threshold onwards. If as is often the case in a recession you fall below the thresholds then you can also deregister for vat.

 

VAT Return Services

 

Avid Partners provide a range of VAT compliance services to clients who engage regarding VAT returns including advice, best practice procedures and compiling/submitting VAT 3 forms on behalf of clients to revenue. These VAT 3 forms are payable every two months and usually by the 23rd of the designated month. We can also process a VAT refund on a clients behalf in situations where the VAT paid on purchases is greater than the VAT received from sales. Avid Partners also provide advice on a range of vat problems including refunds in respect of purchase of commercial motor vehicles or any large business related purchase.

 

Contact Avid Partners today to see how we can assist your business through our VAT Returns Service. Arrange a free consultation with us to talk through the specific aspects of your business and we will tailor a service to match your needs.  You can phone us on 01 4286900, email us at advice@avidpartners.ie  or alternatively you can fill out the form below.

 

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Scenarios:

The first thing is to ensure that your occupancy rates are in line or above the industry average. If you are lagging behind then a change of approach or strategy may be needed. Some basis's include: Making sure you are offering the right packages for guests, offering guests a range of options to keep them entertained and enjoying themselves during their stay, consider tie ins with other business regarding activities for guests, whether you are attracting the right kind of guests to the hotel.
It depends on how long the off season but the obvious answer is to start preparing for the next season. The main question to ask yourself is did the business reach capacity during the last peak season? If so it might be time to consider expanding in some way. If not then further work is needed to ensure there is no wastage for the next busy season. Many businesses face the question of whether to diversify their business into another area during the off season (something less dependent on the tourism market) or whether to keep the business as it but look to add capacity (if capacity has been reached) and always make the most of the busy times to compensate during the quieter ones.
In the modern business world every company has the opportunity to compete for the tourist euro. Some creativity and imagination is needed to think a little different than your competitors. The Internet is the great equaliser and allows for smaller firms to compete with larger ones. Paid advertising in areas of social media (adwords, facebook, twitter) can be very productive as can utilising the free forms of the social media sites on a regular basis. News can spread fast if the content is something different or exciting. Also consider some partnerships or strategic alliances with some other local tourist business in order to pool resources and to maximise from each others customer base.
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