Use online vat registration for faster and safe vat enrolling

If you are a trader based in the UK or other EU country which 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 and you too should reduce effort and time by using all online vat services provided by your own vat department.

In the United Kingdom vat rules specify that you could apply for vat registration if your taxable sales rise over the vat threshold limit of £70,000 during the past 1 year or if you feel they are going to do so within the next 30 days, although you can still register even before your sales touch this figure. However, you can at present only complete basic vat online registration by filling and submitting vat form 1 online. This method is normally utilised by small establishments. In case your business is a partnership firm, a group of companies, or plans to conduct business internationally then you could download and print all vat registration forms but will be needed to fill up 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 will have to first study all applicable vat rules before you register your business online. In case 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 will 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 organization address, telephone and fax numbers, banking account numbers, and several other details associated with your business including a few purchase and sales invoices.

Once your application is approved you will receive your vat number and you will now have to change your invoicing method to issue vat invoices for all your sales. This vat invoice will have to display your vat no, vat rate, vat amount and the same will also need to be displayed on your vat returns that 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 to all goods and services. The regular vat rate is 17.5% that’s 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 that will stay the same. There’s also certain goods and services which are vat exempt. However, the vat rates are different 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 organization for vat then going on the internet will help save your time and also enable you to securely complete the required process required for vat registration. You should simply log on to the hmrc vat department if your organization is based in the UK or ask your vat agent to do so for you before using online vat registration to have registered as being a vat dealer without any problem.