If you’re a trader based in the UK or other EU country that has adopted vat as 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 effort and time by utilizing all online vat services offered by your own vat department.
In the UK vat rules specify that you can make an application for vat registration if your taxable sales rise above the vat threshold limit of Â£70,000 in the past 1 year or if you feel that they will do so over the following 30 days, although you could register before the sales touch this figure. However, you can vatnumbersearch.com at present only complete basic vat online registration by filling and submitting vat form 1 online. This form is normally used by small businesses. If 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 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 organization online. Should 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 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 your hmrc department then you will get a vat questionnaire within 15 days that will need 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 small business including a few purchase and sales invoices.
Once your application is approved you will receive your vat number and you’ll now need 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 must also be shown on your vat returns that will need to be submitted to the hmrc vat department at regular intervals.
Currently, in the UK there are 3 types of vat rates applicable to all goods and services. The regular vat rates are 17.5% that is set to raise 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 that will remain the same. There are also certain goods and services which are vat exempt. However, the vat rates will vary 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 business for vat then going online may help save time and also allow you to securely complete the necessary process needed for vat registration. You ought to simply log on to the hmrc vat department in case your organization is located in the UK or ask your vat agent to do this for you before using online vat registration to get registered as being a vat dealer without having problem.