Use online vat registration for faster and secure vat registering

If you’re a trader based in the UK or other EU country that has adopted vat as a medium of taxation then you should use online VAT registration for faster and secure vat registering. Most countries have computerised their vat operations and you too should save on effort and time by utilizing all online vat services offered by your vat department.

In the United Kingdom vat rules specify that you can apply for vat registration if your taxable sales rise over the vat threshold limit of £70,000 during the past 12 months or if you feel that they are going to do so within the next 30 days, even though you can still 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 form is normally utilised by small businesses. If your organization is a partnership firm, a group of companies, or intends to do business internationally then you can download and print all vat registration forms but will probably be needed to fill 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 decide to 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 case you intend 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 receive 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 several other details associated with your business together with a few purchase and sales invoices.

Once your application is eligible then you will receive your vat number and you will now need to alter your invoicing approach to issue vat invoices for all your sales. This vat invoice will have to display your vat no, vat rate, vat amount and the same must also be shown on your vat returns which will have to be submitted to the hmrc vat department at regular intervals.

Currently, in the United Kingdom you will discover 3 types of vat rates applicable to all goods and services. The regular vat rates are 17.5% that’s set to raise 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’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 remains the same in most vat enabled countries.

If you want to register your business for vat then going on the internet may help save your time and also allow you to securely complete the required process needed for vat registration. You should simply log on to the hmrc vat department in case your organization is based in the UK or ask your vat agent to do so on your behalf before using online vat registration to get registered as a vat dealer without any problem.