Validate all european vat rules before importing goods into an EU State

If you have crossed the threshold limit or wish to become a part of the vat or value added tax system then you will need to apply for registration for vat to turn into a vat registered trader vatcheck.com. Once you turn into a vat registered trader then you will be empowered to reclaim vat paid in another eu country and thereby lower your costs as well as enhance your business cash flow.

Several eu countries like the UK, Spain, Poland, Sweden, Italy, Germany, etc have moved over to vat for taxing products or services. Vat is thus followed even while trading between member eu countries. In case you have started a new business in the UK and have touched ?70,000 pounds in taxable sales during the past 1 year then you can apply for vat registration with the HM Revenue and Customs or hmrc department. You may also apply before threshold limit is achieved if you sell your services or goods to mostly vat registered traders. Vat registration can be achieved as an individual, partnership, company, trust, etc as deemed fit by the hmrc department.

However, as soon as you make an application for vat registration then your costs could increase slightly, and when you sell your goods and services locally in the UK at the retail level then you may opt to remain outside of vat should you only sell vat exempt goods. However, if you try to artificially try to separate your enterprise activities only to remain away from system of vat then this hmrc vat department might not take your actions lightly in case you are discovered doing the same. There are many advantages of entering the vat system since it will avoid the problem of double taxation by allowing you to reclaim vat already paid on goods or services overseas too.

The whole process for registration for vat is pretty simple however, if you aren’t sure about yourself then you should simply appoint a professional vat agent to deal with all vat matters. The hmrc vat department offers several vat online services including applications for registration for vat. You are able to apply for vat through your vat agent too provided you inform the department of your choosing. As soon as you apply for vat registration then the procedure for approving the application typically takes between 10 to 30 days. Fo the time being you can continue issuing regular invoices to your clients. However, in that period you will need to factor in applicable vat rates and re-issue those invoices issued after your application so your clients can reclaim vat from other end.

As soon as your application is eligible then you will receive your distinct vat registration number and will need to display it on all vat documents as well as your vat invoices, vat returns, and vat refunds. You will also need to issue a vat invoice that separately shows all vat rates applied in that invoice along with your vat no at the top. You will have to give a summary of all vat paid and collected in your vat returns that will have to be filed periodically as required by the hmrc vat department. In case you have already paid vat on goods and services in another eu country then you can certainly apply for vat reclaim once you’re an official vat registered trader.

Vat registration is a straightforward online procedure that needs to be done first if you want to turn into a vat registered trader in the United Kingdom. You can easily fill up the online vat registration form and submit it to the hmrc vat department whenever you apply for registration for vat.