If you want to start out in the business world as a VAT registered trader or have touched the vat threshold limit in your country then you should use appropriate vat registering forms to become a vat registered trader. Each eu country that has adopted vat has specific vat registration forms that need to be filled up before you can turn into a vat registered trader in that country.
The European Commission that oversees vat in countries such as the UK, Spain, Belgium, Portugal, Denmark, Sweden, Lithuania, etc has issued eu vat guidelines that need to be followed by all countries that have adopted vat. This includes the UK where it is Her Majesty’s Revenue and Customs department that looks after all vat, customs and excise duty collections, and enforcement of all vat rules. The hmrc as it is also called has its own website hmrc.gov.uk that explains each aspect of vat in great detail while also allowing visitors to download vital vat forms including vat registration forms.
If you are new to the system of vat or if you simply want to start out without committing an error then hiring an efficient vat agent should be your first step that should be taken even before you apply for vat registration. Your agent can guide you through the vat registering process so that you end up with your vat certificate and vat number within the shortest possible time, i.e. usually within a month. You vat agent can also help you by calculating vat rates on your goods and services, filing of vat returns and also applying and tracking vat refunds that usually take several months to materialize.
You can register online for vat as an individual business at the hmrc website by filling up Vat Form 1, if possible with the help of your vat agent. However, if you want to register as a company, a charity, a club, an association or any other organization or institution then you will only be able to download the corresponding vat registration form and will need to post it to the appropriate vat office. The hmrc vat department might also ask for additional details if required by them before they process your application. However, once your application is successfully processed then you will be given a vat certificate that mentions your vat number that will need to be displayed in all vat invoices, vat returns and all other vat documents.
Once you register for vat and receive your vat no then you will have to start charging vat to your customers based on vat classifications made by hmrc on all goods and services. You will also need to file regular vat returns while your vat agent can also help you to file for vat refunds on goods or services imported from any other eu country where vat has been already collected by vat authorities. There are also several other vat online services that can be availed by you and your vat agent on the hmrc website and if you are not computer or internet savvy then now is the right time to acquire a few online skills.
It is important that you learn the basics of all uk vat rules if you are on the verge of turning into a vat registered trader in the UK. However, before you enter into the vat system of the UK or any other eu country you should use appropriate vat registering forms to become a vat registered trader.