Before you start charging vat register for turning into a registered trader

If your country has adopted vat or value added tax and you want your business to become part of the VAT system then before you start charging vat register for turning into a registered trader. Once you turn into a vat registered trader in your country then you can simply follow all applicable vat rules to collect vat, file vat returns and even apply for vat refunds.

Most European countries including Sweden, Germany, Spain, Poland, Portugal, Greece, and the UK among several others now use vat as a common system of collecting taxes on goods and services in their own countries as well as for ease of calculating taxes on cross-border trade between such countries. If your business is situated in the UK then you can either apply for vat registration immediately on starting your new business or wait until you touch the vat threshold limit of £70,000 in the past 12 months before you anyway need to register for vat.

In the UK, it is hmrc vat or HM Revenue and Customs vat that handle all vat-related matters by issuing uk vat rules that need to be followed by all businesses. You too will need to follow these rules during the vat registering process so that your transformation into a vat registered trader is swift and seamless. The hmrc vat department has gone online and you will need to visit their official website to look at their registering process as well as download the applicable vat form to apply for vat registration.

You can get registered as a vat trader as an individual running a business, a partnership, a company, a club, a charity, an association, or even as an institution or organization provided you meet all vat rules issued by hmrc vat. In case you are an individual running your own business then you will need to simply fill up an online vat form and submit it to hmrc. This is the easiest method to apply for vat registration since all other vat register forms can be downloaded by you but will need to be printed and filled up manually before you post it to the appropriate vat office in the UK, Northern Ireland or the Isle of Man.

However, if you only sell vat exempt goods or services then you need not register for vat. However, if you take over an existing business and the combined sales of both businesses go over the vat threshold limit then you will surely need to register for vat registration. You will normally turn into a vat registered trader within a month of filing for vat registration if all data provided by you satisfies hmrc. You will now be issued with a vat certificate and a distinctive vat number that will need to be displayed on each vat invoice that you issue. You will also need to file regular vat returns based on the vat accounting scheme that you choose. In case you import goods or services into the UK where vat has already been paid for the same then as a vat registered trader, you will also be able to claim for vat refunds by following the required procedure.

Most eu countries have eu vat rules that are quite similar to uk vat rules when it comes to turning into a vat registered trader in that country. You should hire a capable vat consultant or agent so that your journey into the world of vat proceeds seamlessly and your vat refunds are also processed quickly. However, before you start charging vat register for turning into a registered trader by logging in at the hmrc website and seek out the right vat form for registration.