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Complete a vat application for vat registration and vat refunds

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If you plan to market goods or services in the UK then you might soon have to turn into a VAT registered trader in order to achieve it you will have to make a vat application for vat registration and vat refunds in the future. It is however, important that you get the application right to begin with for seamless integration into the vat tax system.

The UK along with most of the eu countries have shifted over to vat or value added tax for taxing services and goods sold in their respective countries or even re-exported out of those countries. In case your trading business deals in a very small scale to individual end-users then you might not need to register for vat since this will let you keep the costs at a lower level. However, when your sales touch the vat threshold limit of 70,000 sterling pounds in the previous 12 months or if you think that this figure could be achieved within the coming 1 month then you’ll have to make an application for vat registration.

In Britain all vat rules are issued and managed by Her Majesty?s Revenue and Customs department or hmrc. In case your sales are near the vat threshold limit or if you think that you have to issue vat invoices to any or all your customers then you should make an application for vat certification to the hmrc. You can easily do so by looking into making a web-based application, particularly if you are a person running your individual business. You can easily fill up a vat form referred to as VAT 1 online and submit it online to hmrc vat department. In case your business is a partnership, a company, a trust, a charity, or any other kind of organization then you can download the applicable vat application form but will have to print it at your end, fill it up and dispatch it physically to hmrc.

If the hmrc vat department doesn’t have any additional queries upon receiving the application then you can expect your vat certificate to reach within one month. Thus, if you wish to receive your vat registration with no hiccups you then should hire a vat agent who has knowledge of uk vat as well as eu vat systems so that there is complete adherence to all or any vat rules. Your vat agent can also guide you during filing of vat returns.

If you import goods or services from other eu countries which have already charged you vat on the same then you’ll again need to make a vat refund application to recoup that double-taxed amount. Again, your vat agent can make necessary vat applications for vat refunds in the stipulated time. This helps redirect vital funds back into your business. Since all applications associated with vat usually are of time-bound nature, it is important you file them within the stipulated time period.

If you would like charge vat to your clients then you’ll have to make an application for vat registration to the hmrc once your business becomes entitled to this kind of move. You should enrol the help of a professional vat agent so that your vat application qualifies instantly and your vat registration and future vat refunds are awarded without any problems.