If you’re a trader located in the UK or 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 Checkvatnumber.com. Most countries have computerised their vat operations so you too should save on effort and time by using all online vat services provided by your vat department.
In the United Kingdom vat rules specify that you could apply for vat registration if your taxable sales rise over the vat threshold limit of £70,000 in the past 12 months or if you feel they are going to do this within the next 1 month, even though you can still register before your sales touch this figure. However, you can at present only complete basic vat online registration by filling and submitting vat form 1 online. This form is normally utilised by small establishments. In case your business is a partnership firm, a group of companies, or intends to conduct business internationally then you could download and print all vat registration forms but will 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 will have to first study all applicable vat rules before you register your organization 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 even a customs and excise customs vat agent in the event you intend 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 business address, telephone and fax numbers, bank account numbers, and several other details associated with your business including a few purchase and sales invoices.
As soon as your application is approved you will receive your vat number and you’ll 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 in your vat returns which will have 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 is set to increase to 20% from January 4, 2011 onwards. There’s a reduced vat rate of 5% plus a zero vat rate on specific services and goods that will remain the same. There’s also certain products or 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 organization for vat then going online may help save 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 business 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.