If you are a trader located in the UK or any 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 so you too should save on effort and time by using all online vat services offered by your vat department.
In the United Kingdom vat rules specify that you can apply 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 they are going to do this within the next 1 month, although you can still register even before the sales touch this figure. However, you are able to at present only complete basic vat online registration by filling and submitting vat form 1 online. This method is normally utilised by small businesses. In case 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 probably be required 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 will 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 its better if you appoint a vat agent or perhaps a customs and excise customs vat agent in case you plan to conduct your business on an international level. This will allow you to remain safe while following all vat rules in several countries with falling foul of any department.
Once you send your vat online registration form to the hmrc department then you’ll get a vat questionnaire within 15 days that will need additional details to be submitted including your organization address, telephone and fax numbers, banking account numbers, and a lot of other details connected to your small business together with a few purchase and sales invoices.
As soon as your application is approved you will receive your vat number and you’ll now need to change your invoicing approach to issue vat invoices for all of your sales. This vat invoice will need to display your vat no, vat rate, vat amount and also the same will also need to be displayed on your vat returns that will need to be submitted to the hmrc vat department at regular intervals.
Currently, in the United Kingdom you will discover 3 different types of vat rates applicable for all goods and services. The standard vat rates are 17.5% that is set to raise to 20% from January 4, 2011 onwards. There’s a reduced vat rate of 5% and a zero vat rate on specific goods and services that will stay the same. There are also certain goods and services that are vat exempt. However, the vat rates are different 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 ought to simply log on to the hmrc vat department if your business is located in the UK or ask your vat agent to do this for you before using online vat registration to get registered as being a vat dealer without having problem.