If you are a trader located in the UK or other EU country that has adopted vat to be a medium of taxation then you should use online VAT registration for faster and secure vat registering Http://www.checkvatnumber.com. Most countries have computerised their vat operations and you too should reduce effort and time by utilizing all online vat services provided by your own vat department.
In the UK vat rules specify that you could apply for vat registration if your taxable sales rise above the vat threshold limit of £70,000 in the past 1 year or if you feel that they are going to do this over the following 1 month, even though you could register even before the sales touch this figure. However, you are able to at the moment only complete basic vat online registration by filling and submitting vat form 1 online. This form is generally used by small businesses. In case your business is a partnership firm, a group of companies, or plans to do business internationally then you can download and print all vat registration forms but will be required 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 that has adopted vat then you will need to first study all applicable vat rules before you decide to 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 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 several countries with falling foul of any department.
When you send your vat online registration form to the hmrc department then you’ll receive a vat questionnaire within 15 days that will need additional details to be submitted including your business address, telephone and fax numbers, banking account numbers, and a lot of other details connected to your small business including a few purchase and sales invoices.
As soon as your application is approved you will receive your vat number and you’ll 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 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 different types of vat rates applicable to all goods and services. The regular vat rate is 17.5% that’s set to increase to 20% from January 4, 2011 onwards. There is 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 which are vat exempt. However, the vat rates are different in each eu country even though 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 may help save time plus enable 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 based in the UK or ask your vat agent to do this for you before using online vat registration to have registered as a vat dealer without any problem.