Use online vat registration for faster and secure vat registering

If you’re a trader based 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 time and effort by utilizing all online vat services provided by your vat department.

In the United Kingdom vat rules specify that you could make an application for vat registration if 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 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 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 intends 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 which has adopted vat then you will have to first study all applicable vat rules before you register your business online. Should 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 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.

Once 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 business address, telephone and fax numbers, bank account numbers, and several other details associated with your small business including a few purchase and sales invoices.

Once your application is eligible then you will receive your vat number and you’ll now have to change 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 the same must also be shown in your vat returns that will have 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 goods and services. 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% plus a zero vat rate on specific services and goods which will remain the same. There are also certain goods and services which are vat exempt. However, the vat rates are different in each eu country although the basic concept of charging vat tax continues to be same in all vat enabled countries.

If you wish to register your business for vat then going online may help save time plus allow you to securely complete the required process needed for vat registration. You should simply log on to the hmrc vat department if your business 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 having problem.