If you are a trader located in the UK or any other EU country which has adopted vat as 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 offered by your vat department.
In the United Kingdom vat rules specify that you can apply for vat registration in case your taxable sales rise over the vat threshold limit of Â£70,000 during the past 12 months or if you feel they will do this over the following 1 month, although you could register before the sales touch this figure. However, you can https://vatnumbersearch.com at the moment only complete basic vat online registration by filling up and submitting vat form 1 online. This method is generally used by small businesses. In case your business is a partnership firm, a group of companies, or intends to conduct 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 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’ll need to first study all applicable vat rules before you register your business online. In case 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 will enable you to remain safe while following all vat rules in several countries with falling foul of any department.
When you send your vat online registration form to the hmrc department then you’ll receive 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 several other details associated with your business together with a few purchase and sales invoices.
Once your application is eligible you will receive your vat number and you will now have to alter 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 the same will also need to be shown 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 rate is 17.5% that’s set to raise to 20% from January 4, 2011 onwards. There is a reduced vat rate of 5% plus a zero vat rate on specific goods and services that will stay the same. There’s also certain products or services which are vat exempt. However, the vat rates are different in each eu country although the basic concept of charging vat tax remains the same in all vat enabled countries.
If you wish to register your business for vat then going on the internet will help save your time and also enable you to securely complete the necessary process required for vat registration. You should simply log on to the hmrc vat department in case your organization is located 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 any problem.