If you’re a trader located in the UK or any other EU country that has adopted vat as a medium of taxation then you should use online VAT registration for faster and secure vat registering Checkvatnumber.com. Most countries have computerised their vat operations so you too should save on time and effort by utilizing all online vat services offered by your vat department.
In the United Kingdom vat rules specify that you could apply for vat registration in case your taxable sales rise above the vat threshold limit of £70,000 during the past 12 months or if you feel they will do this within the next 30 days, even though you could register even before your sales touch this figure. However, you are able to at the moment only complete basic vat online registration by filling and submitting vat form 1 online. This form is normally used by small businesses. If your business is a partnership firm, a group of companies, or intends to do business internationally then you could download and print all vat registration forms but will be needed to fill the form manually before sending it to the HM Revenue and Customs or hmrc vat department.
If you are planning to go in for online vat registration in another eu country that has adopted vat then you’ll have to first study all applicable vat rules before you decide to register your organization online. Should you have trouble in deciphering uk vat or eu vat rules then it is better if you appoint a vat agent or perhaps a customs and excise customs vat agent in the event you plan to conduct your business on an international level. This may allow you to remain safe while following all vat rules in different countries with falling foul of any department.
Once you send your vat online registration form to the hmrc department then you will receive a vat questionnaire within 15 days that will require additional details to be submitted such as your business address, telephone and fax numbers, bank account numbers, and a lot of other details connected to your small business including a few purchase and sales invoices.
Once your application is approved then you will receive your vat number and you will now need to alter your invoicing approach to issue vat invoices for all your sales. This vat invoice will have to display your vat no, vat rate, vat amount and the same must also be shown in your vat returns that will need to be submitted to the hmrc vat department at regular intervals.
Currently, in the UK you will discover 3 types of vat rates applicable for all services and goods. The regular vat rate is 17.5% that’s set to increase to 20% from January 4, 2011 onwards. There is a reduced vat rate of 5% and a zero vat rate on specific services and goods that will remain the same. There are also certain goods and services which are vat exempt. However, the vat rates are different in each eu country even though basic concept of charging vat tax continues to be same in all vat enabled countries.
If you want to register your business for vat then going on the internet will help save your time and also allow you to securely complete the required process required for vat registration. You should simply log on to the hmrc vat department in case your organization is based in the UK or ask your vat agent to do this on your behalf before using online vat registration to get registered as a vat dealer without having problem.