If you’re a trader located in the UK or other EU country which has adopted vat as a medium of taxation you then should use online VAT registration for faster and secure vat registering http://www.checkvatnumber.com. Most countries have computerised their vat operations so you too should save on effort and time by using all online vat services offered by your own vat department.
In the UK vat rules specify that you could make an application for vat registration if your taxable sales rise over the vat threshold limit of £70,000 during the past 12 months or if you feel that 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 up and submitting vat form 1 online. This form is normally used by small businesses. In case your organization is a partnership firm, a group of companies, or intends to conduct business internationally then you can download and print all vat registration forms but will be required to fill up 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 register your organization online. In case you have trouble in deciphering uk vat or eu vat rules then its better if you appoint a vat agent or even a customs and excise customs vat agent in case you intend to conduct your business on an international level. This may 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’ll receive a vat questionnaire within 15 days that will require 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 including 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 of your sales. This vat invoice will need to display your vat no, vat rate, vat amount and also the same will also need to be displayed 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 types of vat rates applicable to all goods and services. The standard 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 remain the same. There are also certain goods and services that are vat exempt. However, the vat rates will vary in each eu country although the basic reasoning behind charging vat tax continues to be same in most vat enabled countries.
If you want to register your business for vat then going on the internet may help save your 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 so for you before using online vat registration to get registered as being a vat dealer without any problem.