Validate all european vat rules before importing goods into an EU State

If you have crossed the threshold limit or wish to become a part of the vat or value added tax system then you’ll need to make an application for registration for vat to turn into a vat registered trader http://vatcheck.com. When you finally turn into a vat registered trader you will then be empowered to reclaim vat paid in another eu country and thereby decrease your costs as well as improve your business cash flow.

Several eu countries including the UK, Spain, Poland, Sweden, Italy, Germany, etc have moved over to vat for taxing products or services. Vat is thus followed whilst trading between member eu countries. In case you have started a fresh business in the UK and also have touched ?70,000 pounds in taxable sales in the past 12 months then you can definitely make an application for vat registration with the HM Revenue and Customs or hmrc department. You may also apply before threshold limit is achieved if you sell your services or goods to mostly vat registered traders. Vat registration can be achieved as being an individual, partnership, company, trust, etc as deemed fit by the hmrc department.

However, as soon as you make an application for vat registration your costs could increase slightly, and if you sell your goods and services locally in the UK at a retail level then you may opt to remain outside vat should you only sell vat exempt goods. However, if you try to artificially make an effort to separate your business activities simply to remain away from system of vat then this hmrc vat department might not take your actions lightly in case you are discovered doing precisely the same. There are several advantages of entering the vat system as it will avoid the problem of double taxation by permitting you to reclaim vat already paid on services or goods in another country too.

The whole process for registration for vat is quite simple however, if you aren’t sure about yourself then you definitely should simply appoint an expert vat agent to handle all vat matters. The hmrc vat department offers several vat online services including applications for registration for vat. You are able to apply for vat through your vat agent too provided you inform the department of your choosing. As soon as you apply for vat registration then the procedure for approving your application usually takes between 10 to 30 days. Until then you can continue issuing regular invoices to your clients. However, in that period you will have to take into account applicable vat rates and re-issue those invoices issued after the application so your clients can reclaim vat from other end.

Once your application is eligible you will receive your distinct vat registration number and can have to display it on all vat documents including your vat invoices, vat returns, and vat refunds. You will probably need to issue a vat invoice that separately shows all vat rates applied in the invoice along with your vat no at the very top. You will have to give a summary of all vat paid and collected within your vat returns which will need to be filed periodically as needed by the hmrc vat department. If you have already paid vat on products or services in another eu country then you can certainly apply for vat reclaim once you’re a certified vat registered trader.

Vat registration is a straightforward online process that has to be done first if you wish to turn into a vat registered trader in the UK. You can easily fill the online vat registration form and submit it to your hmrc vat department when you apply for registration for vat.