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 checkvatnumber.com. Most countries have computerised their vat operations and you too should reduce effort and time by utilizing all online vat services offered by your own vat department.
In the United Kingdom vat rules specify that you can make an application for vat registration if your taxable sales rise above the vat threshold limit of £70,000 during the past 12 months or if you feel that they are going to do so within the next 1 month, although you could register even 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 method is normally used by small establishments. If your organization is a partnership firm, a group of companies, or intends to do business internationally then you can download and print all vat registration forms but will 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’ll have to first study all applicable vat rules before you register your business 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 will allow you to remain safe while following all vat rules in different countries with falling foul of any department.
When you send your vat online registration form to your 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, banking account numbers, and a lot of other details associated with your small business together with a few purchase and sales invoices.
As soon as your application is approved then you will receive your vat number and you’ll now have to change your invoicing method to issue vat invoices for all your sales. This vat invoice will have to display your vat no, vat rate, vat amount and also the same will also need to be displayed in your vat returns that will need to be submitted to the hmrc vat department at regular intervals.
Currently, in the UK there are 3 types of vat rates applicable for all goods and services. The regular vat rate is 17.5% that’s set to raise to 20% from January 4, 2011 onwards. There is a reduced vat rate of 5% and a zero vat rate on specific goods and services that will remain the same. There are also certain goods and services that are vat exempt. However, the vat rates will vary in each eu country even though basic reasoning behind charging vat tax continues to be same in all vat enabled countries.
If you want to register your business for vat then going online may help save time plus allow you to securely complete the required process needed for vat registration. You should simply log on to the hmrc vat department if your business is based in the UK or ask your vat agent to do so for you before using online vat registration to have registered as being a vat dealer without any problem.