If you’re a trader located 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 Http://www.checkvatnumber.com. Most countries have computerised their vat operations so you too should save on time and effort by utilizing all online vat services provided by your vat department.
In the United Kingdom vat rules specify that you can apply for vat registration in case your taxable sales rise above the vat threshold limit of £70,000 during the past 12 months or if you feel they are going to do this within the next 1 month, even though you could register before the 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 method is generally used by small establishments. In case 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 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 which has adopted vat then you will need to first study all applicable vat rules before you register your business 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 the event you plan to conduct your small business on an international level. This will 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 the hmrc department then you will get a vat questionnaire within 15 days that will require additional details to be submitted such as your business address, telephone and fax numbers, bank account numbers, and several other details associated with your small business together with a few purchase and sales invoices.
Once your application is eligible you will receive your vat number and you’ll now have to alter 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 that 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 to all goods and services. The regular vat rate is 17.5% that is set to raise 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 goods and services which are vat exempt. However, the vat rates are different in each eu country although the basic reasoning behind charging vat tax continues to be same in all vat enabled countries.
If you want to register your business 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 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 on your behalf before using online vat registration to have registered as a vat dealer without any problem.