If you’re a trader located 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 save on effort and time 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 if your taxable sales rise above the vat threshold limit of £70,000 during the past 12 months or if you feel they will do so within the next 1 month, although you can still register before your sales touch this figure. However, you are able to at the moment only complete basic vat online registration by filling and submitting vat form 1 online. This method is generally used by small businesses. In case your organization 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 plan to go in for online vat registration in another eu country which 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 even a customs and excise customs vat agent in the event you plan to conduct your small 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.
Once you send your vat online registration form to your hmrc department then you’ll receive a vat questionnaire within 15 days that will require additional details to be submitted including your organization address, telephone and fax numbers, bank account numbers, and several other details connected to your small business including a few purchase and sales invoices.
As soon as your application is eligible you will receive your vat number and you’ll now need to alter your invoicing method to issue vat invoices for all of 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 on your vat returns which will have to be submitted to the hmrc vat department at regular intervals.
Currently, in the UK you will discover 3 different types of vat rates applicable to all services and goods. The regular vat rates are 17.5% that is 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 services and goods which will stay the same. There are also certain goods and services which are vat exempt. However, the vat rates will vary 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 organization for vat then going on the internet may help save your time plus enable you to securely complete the required process required for vat registration. You should simply log on to the hmrc vat department if your organization is based 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 having problem.