
Preliminary tax: What self-employed taxpayers need to know
Self-employed small business owners, discover how preliminary tax works, how it's calculated, when it's due and how to submit payment.
If you’re choosing the right rate, setting how often to apply VAT, running reports or submitting returns to Revenue, using our software for small businesses allows you to stay VAT-compliant easily.
No matter what form Brexit takes, Sage Accounting can handle trade to and from Northern Ireland, Europe and further afield. Our software automatically removes VAT for sales in the EU and the rest of the world, and can produce the revised VAT Return of Trading details form.
As you buy, sell and create VAT returns online, Sage provides a monthly snapshot of your current position and a record of previous VAT submissions.
Sage Accounting is built to simplify even the most complex VAT returns. We do all the calculating for you.
Sage Accounting supports many different VAT rates, including Standard, Reduced Rate, Second Reduced Rate, and Zero Rated - all to help you take control of collected and paid VAT.
When you use Sage accounting software, all VAT actions and activities are recorded digitally, that integrates with your wider banking and accounting.
With Sage Accounting you can easily create VAT returns. Use our Detailed Report to check which transactions the VAT Return includes for accuracy. Adjust any values that you want to update. And when your values are correct, submit your return to Revenue through Revenue Online Services.
To check a VAT return online you'll need to sign into your Revenue Online Service account.
Most companies need to submit a return to Revenue every two months. Once you’ve created the return, you can also record your payment or refund of VAT. If you need further assistance or any questions, contact Revenue Online Service helpline.
Selling services? Then you need to register for VAT if you generate €37,500 or over in turnover during a continued period of 12 months.
Selling goods? Then you need to register for VAT if you generate €75,000 or over in turnover during a continued period of 12 months.
In receipt of goods from other EU member states? If the goods sell over the value of €41,000, you'll need to register.
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“It took me up to 2 days to do a quarterly return. Now it takes me up to 6 hours”
Bruce Coates
Transverica
Self-employed small business owners, discover how preliminary tax works, how it's calculated, when it's due and how to submit payment.
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