Make a vat application for vat registration and vat refunds

If you are planning to sell goods or services in Britain then you definitely might soon need to turn into a VAT registered trader and to achieve it you will have to complete 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 to the vat tax system.

Great Britain along with most of the eu countries have shifted to vat or value added tax for taxing goods and services available in their respective countries and even re-exported out of those countries. If your trading business deals in a quite modest scale to individual end-users then you may not need to register for vat since this will let you keep the costs in 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 might be achieved within the coming 30 days 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. If your sales have reached the vat threshold limit or if you think that you need to issue vat invoices to any or all your customers then you definitely should submit an application for vat certification to the hmrc. It is possible to do so by making an online application, particularly if you are a person running your individual business. You can simply fill a vat form known 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 kind of organization then you can download the applicable vat application form but will need to print it out 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 the application then you can expect your vat certificate to arrive within 30 days. Thus, if you want to receive your vat registration with no hiccups you then should hire a vat agent who has expertise in uk vat and even eu vat systems to ensure that there is complete adherence to all or any vat rules. Your vat agent may 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 very same then you will again need to make a vat refund application to recoup that double-taxed amount. Again, your vat agent would be able to make necessary vat applications for vat refunds within the stipulated time. This helps redirect vital funds back into your enterprise. Since all applications associated with vat tend to be of time-bound nature, it is important that you file them within the stipulated time frame.

If you would like charge vat to the clients then you’ll need to apply for vat registration to the hmrc as soon as your business becomes eligible for this kind of move. You should enrol the help of an expert vat agent so that your vat application is approved instantly and your vat registration and future vat refunds are awarded without problems.