If you're a trader located 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 so you too should save on time and effort by utilizing all online vat services offered by your vat department.
In the United Kingdom vat rules specify that you could apply for vat registration in case your taxable sales rise above the vat threshold limit of Â£70,000 during the past 12 months or if you feel they will do this within the next 1 month, although you can still register even before the sales touch this figure. However, you can vatnumbersearch.com at present only complete basic vat online registration by filling and submitting vat form 1 online. This method is normally used by small establishments. If your business is a partnership firm, a group of companies, or intends to conduct business internationally then you can 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 that has adopted vat then you'll need to first study all applicable vat rules before you 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 perhaps a customs and excise customs vat agent in case you plan to conduct your 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.
Once you send your vat online registration form to your hmrc department then you will receive a vat questionnaire within 15 days that will need additional details to be submitted including your organization address, telephone and fax numbers, banking account numbers, and several other details connected to your small business together with a few purchase and sales invoices.
As soon as your application is eligible you will receive your vat number and you will now need to change your invoicing method to issue vat invoices for all of your sales. This vat invoice will need to display your vat no, vat rate, vat amount and the same must also be displayed on your vat returns that will have to be submitted to the hmrc vat department at regular intervals.
Currently, in the UK you will discover 3 different types of vat rates applicable to all services and goods. 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% plus a zero vat rate on specific services and goods which will stay the same. There's also certain goods and services that are vat exempt. However, the vat rates are different in each eu country even though basic concept of charging vat tax remains the same in most vat enabled countries.
If you want to register your business for vat then going online may help save your time and also enable you to securely complete the necessary process required for vat registration. You should simply log on to the hmrc vat department in case your organization is located in the UK or ask your vat agent to do this for you before using online vat registration to have registered as a vat dealer without any problem.