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 so you too should reduce time and effort by using 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 that they will do so within the next 1 month, even though you can still register before your sales touch this figure. However, you can http://vatnumbersearch.com at the moment only complete basic vat online registration by filling and submitting vat form 1 online. This form is normally used by small establishments. If 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 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 register your organization 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 case you intend to conduct your small business on an international level. This may allow 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 get a vat questionnaire within 15 days that will require additional details to be submitted such as your business address, telephone and fax numbers, bank account numbers, and a lot of other details associated with your business including a few purchase and sales invoices.
Once your application is eligible you will receive your vat number and you’ll now need to alter your invoicing approach to issue vat invoices for all your sales. This vat invoice will need to display your vat no, vat rate, vat amount and the same must also be shown in 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 to all goods and services. The regular vat rate is 17.5% that is set to increase to 20% from January 4, 2011 onwards. There is a reduced vat rate of 5% and a zero vat rate on specific goods and services which will stay the same. There’s also certain goods and services which are vat exempt. However, the vat rates are different in each eu country although the basic concept of charging vat tax continues to be same in most vat enabled countries.
If you wish to register your organization for vat then going on the internet will help save time and also enable you to securely complete the necessary process required for vat registration. You ought to simply log on to the hmrc vat department if 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.