If you are a trader based in the UK or any other EU country which 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 so you too should save on effort and time by utilizing all online vat services provided by your own vat department.
In the UK vat rules specify that you could make an application for vat registration if your taxable sales rise above the vat threshold limit of £70,000 in 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 your sales touch this figure. However, you can vatnumbersearch.com at the moment only complete basic vat online registration by filling and submitting vat form 1 online. This method is generally utilised by small businesses. 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 be needed 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 which has adopted vat then you'll need 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 its better if you appoint a vat agent or perhaps a customs and excise customs vat agent in case you plan to conduct your 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.
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 including your business address, telephone and fax numbers, bank account numbers, and several other details connected to your small 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 method to issue vat invoices for all your sales. This vat invoice will need to display your vat no, vat rate, vat amount and also the same will also need to be displayed in your vat returns that will need to be submitted to the hmrc vat department at regular intervals.
Currently, in the United Kingdom there are 3 types of vat rates applicable to all services and goods. The standard 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 stay 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 reasoning behind charging vat tax remains the same in most vat enabled countries.
If you wish to register your organization for vat then going online will help save time and also allow you to securely complete the necessary process required 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 this for you before using online vat registration to get registered as being a vat dealer without any problem.
