Complete a vat application for vat registration and vat refunds

If you are planning to sell goods or services in the UK then you definitely 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 foreseeable future. It is however, important that you get your application right the first time around for seamless integration into the vat tax system.

Great Britain together with the majority of the eu countries have shifted to vat or value added tax for taxing goods and services available in their respective countries or even re-exported from those countries. In case your trading business deals in a very small scale to individual end-users then you may not have 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 within the previous 12 months or if you think that this figure could be achieved in the coming 1 month then you will need to make an application for vat registration.

In the UK all vat rules are issued and managed by Her Majesty?s Revenue and Customs department or hmrc. In case your sales have reached the vat threshold limit or if you feel that you need to issue vat invoices to all your clients then you definitely should make an application for vat certification to the hmrc. It is possible to achieve this by making a web-based application, particularly if you are an individual running your individual business. You can simply fill up a vat form referred to as VAT 1 online and submit it online to hmrc vat department. In case your organization be a partnership, a firm, a trust, a charity, or any other type of organization then you can download the applicable vat application but will have to print it at your end, fill it up and dispatch it physically to hmrc.

If the hmrc vat department does not have any additional queries upon receiving your application then you can certainly expect your vat certificate to reach within 30 days. Thus, if you want to receive your vat registration without any hiccups you then should hire a vat agent who has expertise in uk vat and even eu vat systems so that there is complete adherence to all or any vat rules. Your vat agent may also direct you during filing of vat returns.

Should you import goods or services from other eu countries that have already charged you vat on the very same then you’ll again want to make a vat refund application to recover that double-taxed amount. Again, your vat agent would be able to make necessary vat applications for vat refunds in the stipulated time. This helps redirect vital funds back into your business. Since all applications related to vat usually are of time-bound nature, it is crucial you file them within the stipulated time period.

If you would like charge vat to your clients then you’ll have to apply for vat registration to the hmrc once your business becomes entitled to this kind of move. You should enrol the aid of a professional vat agent so your vat application is approved instantly plus your vat registration and future vat refunds are awarded without problems.