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Complete company vat registration process before starting trading


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For those who have started a fresh business that plans to start trading in goods or services that attract vat or value added tax then you should complete company vat registration process before you begin trading. This will enable you to get a vat number, issue vat invoices, file your vat returns http://vatcheck.com, and claim vat refunds so as to lower the financial burden on your business due to duplicate taxation.

If you are planning to import goods or services from EU countries which have enveloped vat, you will certainly require to get registered with the relevant vat authorities throughout your home country. You can utilize vat online services which will allow you sign up for a vat refund when you import goods or services that have already paid vat in the country of origin. When you are over the vat threshold limit set by the country to turn into a vat registered dealer, you are able to fill out the necessary vat form so as to get your vat no and begin trading as a registered vat trader.

For instance, if you are already trading in the UK and also have crossed over the minimum vat limit in taxable sales in the last Twelve months, you’ll be able to make an application for company vat registration. You will need to speak to your local hmrc vat department or customs and excise customs vat department to start the process for vat registration. You can visit their website and fill out the online form to put the ball rolling for quick registration. You’ll also need to do a detailed study on the actual vat rates about the products that you propose to trade in, if you plan to begin a fresh business.

While vat rules are very simple to comprehend, it might make better sense to appoint a vat agent or vat consultant, particularly if you plan to import goods from other EU States where vat might have also been paid before shipping it to the country. This move will help you to reclaim vat in those countries in order to arrive at actual costing figures for your products. Additionally, you will have to file regular vat returns stating your purchase, sales, vat collected and vat sum to be paid for that specific period. A competent vat agent will be in a stronger position to handle your vat requirements to help you concentrate on other avenues to increase revenues of your business.

There are different vat rates on different services and goods while certain items and services are also vat exempt. If you have not registered for vat then you can certainly start trading but won’t be allowed to collect vat or claim any vat refunds until your business is vat registered. Anyway, most other firms that you contend with will insist on your vat registration before they commence business with you in order that the vat chain is not interrupted.

In case you have started a business or are planning to do so in the near future then you need to obtain registered for uk vat as well as eu vat, especially if you want to contend with other EU countries. This will enable you to claim vat which has already been paid as well as control your product costs by remaining while in the vat cycle. You should certainly complete company vat registration process before you begin trading on a large scale so as to corner all benefits offered by vat.