If you are a trader located in the UK or other EU country that has adopted vat as a medium of taxation you then 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 using all online vat services offered by your vat department.
In the United Kingdom vat rules specify that you can make an application for vat registration if your taxable sales rise over the vat threshold limit of Â£70,000 during the past 1 year or if you feel they will do so within the next 30 days, even though you can still register even before your sales touch this figure. However, you are able to http://vatnumbersearch.com at the moment only complete basic vat online registration by filling and submitting vat form 1 online. This form is normally utilised by small businesses. In case your organization is a partnership firm, a group of companies, or plans to do business internationally then you could download and print all vat registration forms but will probably be needed to fill up the form manually before sending it back to the HM Revenue and Customs or hmrc vat department.
If you plan to go in for online vat registration in another eu country which has adopted vat then you will have to first study all applicable vat rules before you 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 even a customs and excise customs vat agent in case you intend to conduct your business on an international level. This will enable 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 get a vat questionnaire within 15 days that will need 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 business together with a few purchase and sales invoices.
Once your application is eligible you will receive your vat number and you’ll now have to change your invoicing approach to issue vat invoices for all your sales. This vat invoice will need to display your vat no, vat rate, vat amount and the same must also be displayed in 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 types of vat rates applicable to all services and goods. 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’s also certain goods and services that are vat exempt. However, the vat rates will vary in each eu country although the basic concept of charging vat tax continues to be same in most vat enabled countries.
If you want to register your organization for vat then going online will help save your time plus 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 for you before using online vat registration to get registered as a vat dealer without having problem.