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Apply for registration for vat to turn into a vat registered trader


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In case you have crossed the threshold limit or want 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. Once you are a vat registered trader then you will be empowered to reclaim vat paid in another eu country and thereby decrease your costs and also improve your business earnings.

Several eu countries like the UK, Spain, Poland, Sweden, Italy, Germany, etc have moved over to vat for taxing goods and services. Vat is thus followed even while trading between member eu vatvalidation.com countries. In case you have started a new business in the United Kingdom and also have touched ?70,000 pounds in taxable sales during the past 12 months then you can definitely make an application 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 goods or services to mostly vat registered traders. Vat registration can be achieved as being an individual, partnership, company, trust, etc as deemed fit by the hmrc department.

However, once you apply for vat registration your costs could increase slightly, and if you sell your products or services locally in the United Kingdom at the retail level then you may choose to remain outside vat if you only sell vat exempt goods. However, if you try to artificially try to separate your business activities simply to remain outside the system of vat then the hmrc vat department may not take your actions lightly if you’re discovered doing the same. There are many benefits of entering the vat system as it will avoid the problem of double taxation by permitting you to reclaim vat already paid on services or goods overseas too.

The entire process for registration for vat is pretty simple however, if you are not sure about yourself then you definitely should simply appoint an expert vat agent to handle all vat matters. The hmrc vat department offers several vat online services including applications for registration for vat. You are able to make an application for vat through your vat agent too provided you inform the department of your choice. As soon as you make an application for vat registration then the procedure for approving the application usually takes between 10 to 30 days. Until then you can continue issuing regular invoices to your clients. However, in that period you will need to take into account applicable vat rates and re-issue those invoices issued after the application so that your clients can reclaim vat from their end.

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

Vat registration is a simple online process that needs to be done first if you wish to turn into a vat registered trader in the United Kingdom. You can simply fill up the web based vat registration form and submit it to your hmrc vat department whenever you make an application for registration for vat.