Make a vat application for vat registration and vat refunds

If you plan to market goods or services in Britain then you definitely might soon have to turn into a VAT registered trader in order to achieve it you will need to make a vat application for vat registration and vat refunds in the foreseeable future. It is however, important that you get the application right to begin with for seamless integration to the vat tax system.

Great Britain along with most of the eu countries have shifted to vat or value added tax for taxing services and goods sold in their respective countries and even re-exported out of those countries. In case your trading business deals at a quite modest scale to individual end-users then you may not need to register for vat simply because this will let you keep your costs at a lower level. However, once your sales touch the vat threshold limit of 70,000 sterling pounds in the previous 12 months or if you feel that this figure could be achieved in the coming 1 month then you’ll need to make an application for vat registration.

In Britain all vat rules are issued and managed by Her Majesty?s Revenue and Customs department or hmrc. If your sales are near the vat threshold limit or if you feel that you need to issue vat invoices to all your clients then you definitely should submit an application for vat certification to the hmrc. It is possible to achieve this by looking into making an online application, particularly if you are a person running your own business. You can easily fill up a vat form known as VAT 1 online and submit it online to hmrc vat department. Should your organization be a partnership, a company, a trust, a charity, or other type of organization you may download the applicable vat application form but will need to print it out in your end, fill it up and dispatch it physically to hmrc.

In the event the hmrc vat department does not have any additional queries upon receiving the application then you can expect your vat certificate to arrive within one month. Thus, if you want to receive your vat registration without any hiccups then you should hire a vat agent who has knowledge of uk vat and even eu vat systems to ensure that there’s complete adherence to all or any vat rules. Your vat agent may also direct you during filing of vat returns.

Should you import goods or services from other eu countries that have already charged you vat on the very same then you’ll again want to make a vat refund application to recover that double-taxed amount. Again, your vat agent can make the necessary vat applications for vat refunds in the stipulated time. This helps redirect vital funds directly into your enterprise. Since all applications related to vat usually are of time-bound nature, it is crucial you file them well within the stipulated time frame.

If you would like charge vat to the clients then you will have to apply for vat registration to the hmrc once your business becomes entitled to this kind of move. You should enrol the aid of a professional vat agent so that your vat application is approved instantly and your vat registration and future vat refunds are awarded without problems.