If you’re a trader based 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 save on time and effort by using all online vat services offered by your own vat department.
In the United Kingdom 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 during the past 1 year or if you feel they are going to do this over the following 1 month, although you can still register even before the sales touch this figure. However, you are able to www.vatnumbersearch.com at present only complete basic vat online registration by filling up and submitting vat form 1 online. This method is normally utilised by small establishments. If your organization is a partnership firm, a group of companies, or plans to do business internationally then you could 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 that has adopted vat then you will 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 perhaps a customs and excise customs vat agent in the event you intend to conduct your 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.
When you send your vat online registration form to your hmrc department then you’ll get a vat questionnaire within 15 days that will need additional details to be submitted including your organization address, telephone and fax numbers, banking account numbers, and a lot of other details connected to your small business including a few purchase and sales invoices.
As soon as your application is eligible then you will receive your vat number and you’ll now need to change your invoicing method to issue vat invoices for all of your sales. This vat invoice will have to display your vat no, vat rate, vat amount and also the same must also be displayed on your vat returns which will need to be submitted to the hmrc vat department at regular intervals.
Currently, in the UK you will discover 3 different types of vat rates applicable for all goods and services. The regular vat rate is 17.5% that is set to increase 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 remain the same. There’s also certain products or services that are vat exempt. However, the vat rates are different in each eu country although the basic reasoning behind charging vat tax remains the same in all vat enabled countries.
If you want to register your organization for vat then going online will help save your time and also enable you to securely complete the necessary process needed for vat registration. You ought to simply log on to the hmrc vat department if your business 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.