If you’re a trader based in the UK or other EU country that has adopted vat to be a medium of taxation then you should use online VAT registration for faster and secure vat registering. Most countries have computerised their vat operations so you too should reduce time and effort by utilizing all online vat services provided by your vat department check vat number.
In the UK vat rules specify that you could apply for vat registration in case your taxable sales rise above the vat threshold limit of Â£70,000 in the past 12 months or if you feel that they are going to do so within the next 30 days, although you can still register before the sales touch this figure. However, you can at the moment only complete basic vat online registration by filling up and submitting vat form 1 online. This form is generally used by small establishments. In case 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 probably be required to fill up 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 will 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 case you intend to conduct your business on an international level. This may enable 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 your hmrc department then you will get a vat questionnaire within 15 days that will need additional details to be submitted including your business address, telephone and fax numbers, bank account numbers, and several other details connected to your business together with a few purchase and sales invoices.
Once your application is approved you will receive your vat number and you will now have to alter your invoicing method to issue vat invoices for all of your sales. This vat invoice will need to display your vat no, vat rate, vat amount and the same will also need to be displayed in your vat returns that will have to be submitted to the hmrc vat department at regular intervals.
Currently, in the UK you will discover 3 types of vat rates applicable to all goods and services. The regular vat rates are 17.5% that’s set to increase to 20% from January 4, 2011 onwards. There’s a reduced vat rate of 5% plus a zero vat rate on specific services and goods that will stay the same. There are also certain goods and services which are vat exempt. However, the vat rates are different in each eu country although the basic reasoning behind charging vat tax remains the same in most vat enabled countries vat check.
If you want to register your business for vat then going on the internet will help save your time and also enable you to securely complete the required process needed for vat registration. You should simply log on to the hmrc vat department in case your business is based in the UK or ask your vat agent to do this on your behalf before using online vat registration to have registered as being a vat dealer without any problem.