Use online vat registration for quicker and safe 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 using all online vat services offered 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 during the past 1 year or if you feel that they will do so over the following 1 month, although you could register even 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 normally used by small establishments. In case your organization 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 probably be required to fill the form manually before sending it back 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 register your organization 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 intend 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.

Once you send your vat online registration form to the hmrc department then you’ll get a vat questionnaire within 15 days that will need additional details to be submitted such as your business address, telephone and fax numbers, banking account numbers, and a lot of other details connected to your business including a few purchase and sales invoices.

Once your application is eligible you will receive your vat number and you’ll now need to change your invoicing approach to issue vat invoices for all your sales. This vat invoice will need to display your vat no, vat rate, vat amount and the same will also need to be displayed in your vat returns which 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 regular vat rates are 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 that 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 although the basic concept of charging vat tax remains the same in all vat enabled countries.

If you want to register your organization for vat then going online will help save time and also allow you to securely complete the required process needed 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 this on your behalf before using online vat registration to get registered as a vat dealer without any problem.