Use online vat registration for faster and safe vat registering

by admin on 2018/01/05

If you’re a trader located in the UK or any 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 and you too should reduce effort and time by using all online vat services offered by your own vat department.

In the United Kingdom vat rules specify that you could make an application for vat registration in case your taxable sales rise over the vat threshold limit of £70,000 during the past 1 year or if you feel they are going to do this within the next 1 month, although you can still register even before the sales touch this figure. However, you can 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 establishments. 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 be required 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 need to first study all applicable vat rules before you decide to register your business online. In case you have trouble in deciphering uk vat or eu vat rules then it is better if you appoint a vat agent or perhaps a customs and excise customs vat agent in case you plan to conduct your small 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 your hmrc department then you will get a vat questionnaire within 15 days that will require additional details to be submitted including your business address, telephone and fax numbers, bank account numbers, and several other details associated with your business together with 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 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 will also need to be shown in your vat returns which will need to be submitted to the hmrc vat department at regular intervals.

Currently, in the United Kingdom there are 3 different types of vat rates applicable for all services and goods. The standard 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 goods and services that will remain the same. There are also certain products or 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 all vat enabled countries.

If you wish to register your business for vat then going on the internet will help save your time plus enable you to securely complete the required process required 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 so on your behalf before using online vat registration to get registered as being a vat dealer without any problem.

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