Make a vat application for vat registration and vat refunds

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

The UK along with most of the eu countries have shifted over to vat or value added tax for taxing services and goods available in their respective countries and even re-exported from those countries. If your trading business deals in a quite small scale to individual end-users then you may not need to register for vat simply because this will allow you to keep the costs in a lower level. However, when your sales touch the vat threshold limit of 70,000 sterling pounds in the previous 12 months or if you feel that this figure might be achieved within the coming 30 days then you’ll need to apply for vat registration.

In the UK all vat rules are issued and managed by Her Majesty?s Revenue and Customs department or hmrc. In case your sales are near the vat threshold limit or if you feel that you need to issue vat invoices to any or all your clients then you definitely should submit an application for vat certification to the hmrc. You can easily do so by looking into making a web-based application, especially if you are an individual running your own business. You can simply fill a vat form referred to as VAT 1 online and submit it online to hmrc vat department. In case your organization be a partnership, a firm, a trust, a charity, or other kind of organization you may download the applicable vat application form but will have to print it in your end, fill it up and dispatch it physically to hmrc.

In the event the hmrc vat department doesn’t have any additional queries upon receiving the application then you can certainly expect your vat certificate to arrive within 30 days. Thus, if you want to receive your vat registration with no hiccups then you should hire a vat agent who has knowledge of uk vat as well as eu vat systems to ensure that there’s complete adherence to all vat rules. Your vat agent can also direct you during filing of vat returns.

If you import services or goods from other eu countries which 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 necessary vat applications for vat refunds in the stipulated time. This helps redirect vital funds back into your business. Since all applications associated with vat usually are of time-bound nature, it is important you file them within the stipulated time frame.

If you would like charge vat to your clients then you’ll have to make an application for vat registration to the hmrc as soon as your business becomes eligible for this kind of move. You must enrol the aid of a professional vat agent so your vat application is approved instantly and your vat registration and future vat refunds are awarded without problems.