Use online vat registration for quicker and secure vat enrolling

If you’re a trader based in the UK or other EU country which has adopted vat to be 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 save on effort and time by utilizing all online vat services provided by your own vat department.

In the United Kingdom vat rules specify that you can apply for vat registration in case your taxable sales rise above the vat threshold limit of £70,000 in the past 1 year or if you feel they will do so within the next 1 month, although you can still register even before your sales touch this figure. However, you are able to at present only complete basic vat online registration by filling up and submitting vat form 1 online. This method is generally utilised by small establishments. If your organization is a partnership firm, a group of companies, or intends to do business internationally then you can download and print all vat registration forms but will probably 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 that has adopted vat then you’ll need to first study all applicable vat rules before you decide to register your organization online. Should you have trouble in deciphering uk vat or eu vat rules then its 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 enable 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 will receive a vat questionnaire within 15 days that will require additional details to be submitted including your business address, telephone and fax numbers, bank account numbers, and several other details connected to your business together with a few purchase and sales invoices.

Once your application is eligible 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 need to display your vat no, vat rate, vat amount and also 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 types of vat rates applicable for all goods and services. The standard vat rate is 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 remain the same. There are also certain goods and services which are vat exempt. However, the vat rates are different 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 business for vat then going online may help save your time and also allow you to securely complete the necessary process needed for vat registration. You ought to simply log on to the hmrc vat department if your organization is based in the UK or ask your vat agent to do this on your behalf before using online vat registration to have registered as being a vat dealer without having problem.