Paying IGIC in first year of business?!?

[Debbie_22]

Heya.

I am autonomo, about to do my first quarterly returns.
I have been told varying things from different people. Some say in first year you do not pay your IGIC. Others say that the law changed from Jan 2013, so that you do have to pay it.
Some websites say that there is a threshhold of about 24k that if you do not exceed this in your first year, then you don't pay. (my accountant says yes, a diff accounts person said no)

PLEASE CAN SOMEONE ADVISE ME!!
THANKS!!!

Debbie

[peter perfect]

Hi Debbie
the law changed in Jan 2013 and all small business must pay IGIC at 7%, there used to be a low earnings amount but it was scrapped.
help this helps.