If you are a trader based in the UK or other EU country that has adopted vat to be a medium of taxation then you should use online VAT registration for faster and secure vat registering http://checkvatnumber.com. Most countries have computerised their vat operations and you too should reduce time and effort by utilizing all online vat services provided by your vat department.
In the UK vat rules specify that you can make an application for vat registration in case your taxable sales rise over the vat threshold limit of £70,000 in the past 1 year or if you feel that they are going to do so within the next 1 month, although you can still register before the sales touch this figure. However, you are able to at present only complete basic vat online registration by filling and submitting vat form 1 online. This method is generally utilised by small businesses. In case your business is a partnership firm, a group of companies, or plans to do 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 which 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 perhaps a customs and excise customs vat agent in the event you intend to conduct your business on an international level. This will enable 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 receive a vat questionnaire within 15 days that will require additional details to be submitted such as your organization address, telephone and fax numbers, banking account numbers, and a lot of other details connected to your small business together with a few purchase and sales invoices.
Once your application is approved you will receive your vat number and you’ll now have to alter your invoicing approach 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 will also need to be displayed in your vat returns that will have 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 services and goods. The regular vat rate is 17.5% that’s set to increase to 20% from January 4, 2011 onwards. There’s a reduced vat rate of 5% plus a zero vat rate on specific services and goods which will remain the same. There are also certain products or services that are vat exempt. However, the vat rates will vary in each eu country even though basic reasoning behind charging vat tax remains the same in most vat enabled countries.
If you want to register your organization for vat then going online will help save your time plus enable you to securely complete the necessary process needed for vat registration. You should simply log on to the hmrc vat department if your organization is based in the UK or ask your vat agent to do so for you before using online vat registration to get registered as a vat dealer without any problem.