Make a vat application for vat registration and vat refunds

If you are planning to sell services or goods in Britain then you might soon need to turn into a VAT registered trader and to achieve it you will need to make a vat application for vat registration and vat refunds in the foreseeable future. It is however, essential that you get the application right the first time around for seamless integration to the vat tax system.

The UK together with the majority of the eu countries have shifted over to vat or value added tax for taxing services and goods available in their respective countries or even re-exported from those countries. In case your trading business deals at a quite small scale to individual end-users then you may not have to register for vat simply because 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’ll need 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 feel that you have 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 achieve this by looking into making a web-based application, especially if you are an individual running your own 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 firm, a trust, a charity, or other type of organization you may download the applicable vat application form but will have to print it out in your end, fill it up and dispatch it physically to hmrc.

In the event the hmrc vat department doesn’t have any additional queries upon receiving your application then you can expect your vat certificate to arrive within one month. Thus, if you want to receive your vat registration with no hiccups then you should hire a vat agent that has expertise in uk vat and even eu vat systems so that there is complete adherence to all vat rules. Your vat agent may also direct you during filing of vat returns.

Should you import goods or services from other eu countries which have already charged you vat on the same then you’ll again want to make a vat refund application to recover that double-taxed amount. Again, your vat agent can make necessary vat applications for vat refunds within 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 well within the stipulated time frame.

If you want to charge vat to your clients then you will need to make an application for vat registration to the hmrc once your business becomes entitled to such a move full report. You should enrol the help of a professional vat agent so that your vat application qualifies instantly plus your vat registration and future vat refunds are awarded without problems.