Use online vat registration for faster and safe vat registering

If you’re a trader located in the UK or any 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 so you too should save on time and effort by using all online vat services provided by your vat department.

In the United Kingdom vat rules specify that you can apply 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 this within the next 1 month, although you could register before your 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 method is generally utilised by small businesses. If your business 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 be required 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’ll 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 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 the hmrc department then you’ll get 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 a lot of other details connected to your small business including a few purchase and sales invoices.

Once your application is approved you will receive your vat number and you’ll now have to change your invoicing method to issue vat invoices for all of your sales. This vat invoice will need to display your vat no, vat rate, vat amount and the same will also need to be shown on your vat returns which 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 for all goods and services. The standard vat rates are 17.5% that is set to increase to 20% from January 4, 2011 onwards. There is a reduced vat rate of 5% and a zero vat rate on specific goods and services which will stay the same. There’s also certain products or services that 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 most vat enabled countries.

If you want to register your business for vat then going online may help save 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 if your business is located in the UK or ask your vat agent to do this on your behalf before using online vat registration to have registered as a vat dealer without any problem.