If you are 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 https://checkvatnumber.com. Most countries have computerised their vat operations and you too should reduce effort and time by utilizing all online vat services offered by your vat department.
In the UK vat rules specify that you can make an application for vat registration in case your taxable sales rise above the vat threshold limit of £70,000 during the past 1 year or if you feel that they will do this within the next 30 days, although 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 method is normally utilised by small establishments. In case your business is a partnership firm, a group of companies, or plans to conduct business internationally then you can download and print all vat registration forms but will probably be needed to fill up 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 which has adopted vat then you’ll have to first study all applicable vat rules before you decide to register your organization 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 the event you intend to conduct your small 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 your hmrc department then you’ll receive a vat questionnaire within 15 days that will require additional details to be submitted such as your business address, telephone and fax numbers, banking account numbers, and several other details connected to your small business including a few purchase and sales invoices.
As soon as your application is approved 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 have to display your vat no, vat rate, vat amount and the same will also need to be shown in your vat returns that will have to be submitted to the hmrc vat department at regular intervals.
Currently, in the UK you will discover 3 types of vat rates applicable for all goods and services. The standard vat rate is 17.5% that’s set to increase 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 which will remain the same. There’s also certain products or services which are vat exempt. However, the vat rates will vary in each eu country although the basic reasoning behind 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 will help save your time and also allow you to securely complete the necessary process required for vat registration. You ought to simply log on to the hmrc vat department if your business 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 being a vat dealer without any problem.