Use online vat registration for quicker and safe vat registering

If you’re a trader based in the UK or any other EU country which has adopted vat to be 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 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 in case 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 this within the next 30 days, even though you could register 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 normally used by small establishments. If your organization is a partnership firm, a group of companies, or plans to do business internationally then you could download and print all vat registration forms but will be needed to fill the form manually before sending it 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 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 it is better if you appoint a vat agent or even 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.

When you send your vat online registration form to the hmrc department then you will 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 a lot of other details connected to your business including a few purchase and sales invoices.

Once 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 also the same will also need to be shown in your vat returns that will need to be submitted to the hmrc vat department at regular intervals.

Currently, in the UK you will discover 3 types of vat rates applicable for all goods and services. The standard vat rate is 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 services and goods that 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 want to register your business for vat then going on the internet will help save your time plus enable you to securely complete the required process required 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 get registered as a vat dealer without having problem.