If you’re a trader located in the UK or any other EU country that has adopted vat to be a medium of taxation you then should use online VAT registration for faster and secure vat registering. Most countries have computerised their vat operations and 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 could apply 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 this over the following 30 days, even though you could register even before the sales touch this figure. However, you can at the moment only complete basic vat online registration by filling up and submitting vat form 1 online. This method is normally vatverification.com used by small establishments. If your organization 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 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 that has adopted vat then you’ll have to first study all applicable vat rules before you decide to 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 perhaps a customs and excise customs vat agent in the event you intend to conduct your 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.
When you send your vat online registration form to the hmrc department then you will get a vat questionnaire within 15 days that will need additional details to be submitted including your business address, telephone and fax numbers, banking account numbers, and several other details connected to your small business together with a few purchase and sales invoices.
As soon as your application is eligible you will receive your vat number and you will now have to change your invoicing approach to issue vat invoices for all your sales. This vat invoice will have to display your vat no, vat rate, vat amount and the same will also need to be displayed in 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 types of vat rates applicable for all goods and services. The standard vat rate is 17.5% that is set to raise to 20% from January 4, 2011 onwards. There’s a reduced vat rate of 5% and a zero vat rate on specific services and goods 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 most vat enabled countries.
If you want to register your organization for vat then going on the internet will help save your time and also allow you to securely complete the required process needed for vat registration. You ought to simply log on to the hmrc vat department if your organization is based in the UK or ask your vat agent to do so on your behalf before using online vat registration to get registered as a vat dealer without having problem.