If you are a trader based in the UK or any 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 so you too should reduce effort and time by using all online vat services provided by your vat department.
In the UK 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 in the past 12 months or if you feel that they are going to do so over the following 1 month, even though you could register even before your sales touch this figure. However, you are able to at the moment only complete basic vat online registration by filling up and submitting vat form 1 online. This method is generally used by small businesses. In case your vatcontrol.com organization is a partnership firm, a group of companies, or intends to conduct business internationally then you could download and print all vat registration forms but will probably be required to fill the form manually before sending it to the HM Revenue and Customs or hmrc vat department.
If you are planning to go in for online vat registration in another eu country that has adopted vat then you will have to first study all applicable vat rules before you decide to register your business online. In case 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 case you intend 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.
Once you send your vat online registration form to the hmrc department then you will get 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 a lot of other details connected to your small business including a few purchase and sales invoices.
Once your application is approved you will receive your vat number and you’ll 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 United Kingdom you will discover 3 different types of vat rates applicable to all goods and services. The regular vat rates are 17.5% that is 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 are also certain products or services which are vat exempt. However, the vat rates are different in each eu country even though basic concept of charging vat tax continues to be same in all vat enabled countries.
If you want to register your business for vat then going on the internet may help save your time plus 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 based 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 having problem.