If you want to or need to turn into a VAT registered trader in the UK or even in most other vat-enabled eu countries then performing vat online registration is simple and convenient. You can also remain free from worrying about whether your documents have reached safely by post and can submit your application on a 24/7 basis.
Most eu countries that follow the system of value added tax or vat follow rules established by the European Commission. These eu vat rules are interpreted by each eu country and even converted into their own local language before being implemented. In the UK it is hmrc or HM Revenue and Customs that have interpreted these vat rules so as to help traders to register for vat and also guide them ahead once they turn into vat registered traders.
If you are one such trader that wants to get registered immediately since your clients demand vat certification to apply for vat reclaim then you will need to do so once your new business starts trading. Anyway, once your taxable sales reach the vat threshold limit of £70,000 in taxable sales in the past 12 months as imposed by hmrc vat department then you will have to apply for vat registration and get your own vat number that will need to be displayed on all vat documents including your vat invoice, vat return and vat refund application.
Hmrc has made it very convenient for you to apply for vat registration online and you simply need to visit their website hmrc.co.uk to kick-start your process into the world of vat. You should, however, first employ an efficient vat consultant or agent that can take care of all aspects related to vat since you will not find it easy to rectify any mistakes and might even get penalized. If you run a small business all by yourself then you can easily fill up the applicable vat online registration form over the internet and submit it to hmrc instantly thus avoiding any postal delays or incurring postal costs.
However, if your business is a partnership or part of a group, or a charitable organization, among other forms of businesses then you will need to download the applicable vat form for registration. You can then print the form and then fill it up before sending it back to hmrc vat by post. Once you apply for vat registration then hmrc will send you a questionnaire within 15 days that will ask for other details such as your address, bank account numbers, telephone and fax numbers, etc. If hmrc is satisfied with all details provided by you then you will normally receive your vat registration number and certificate within a month.
In addition to online registration, hmrc also offers several other vat online services to save your precious time and money. All your vat returns will have to be filed online and you can also apply for vat refunds online for vat already paid on certain goods and services, even if they have been paid in another vat enabled eu country. You should make sure that you get acquainted with your computer and the internet since you can easily find out more about all aspects of vat by visiting the hmrc website.
Getting registered for vat is your first step into the world of vat and once you do turn into a vat registered trader in the UK then you will need to follow all uk vat rules to ensure that your business prospers without a tax hitch. Performing vat online registration is simple and convenient, and a little computer knowledge along with a capable vat agent will ensure that you take a safe first step into the world of vat.