Take full advantage of vat online services

If you are a trader or manufacturer in any EU country that follows vat, especially in the UK then you should take full advantage of vat online services to reduce actual paperwork. This process is extremely easy and will also help you to save time, effort and money even as most vat departments across Europe have already made it mandatory for vat registered traders to use several online services offered by them.

In the UK it is Her Majesty’s Revenue and Customs department or hmrc that enforces the uk vat version, which essentially is based on eu vat rules that are issued by the European Commission. Hmrc vat has indeed taken to the internet by shifting several services online such as applying for vat registrations, vat returns and vat refunds. If your taxable sales in the previous 12 months have touched or are poised to touch the vat threshold limit in the UK then you will have to apply for vat registration. You will need to download the applicable vat form for registration based on your status as a small business, partnership, part of a group of companies or even a charitable organization.

If you run a small business single-handedly then you can simply fill up the vat online registration form and submit it to hmrc vat within a few minutes. All other types of application forms need to be downloaded, printed, filled-up and then sent over to the mentioned vat office by post. Once you turn into a vat registered trader then you will need to firstly get registered online with hmrc to use all vat online services offered by them. You will need to submit your vat number and can then type in your unique password during the registration process so as to use all online services in future.

You will anyway need to file your vat returns online, which in turn offers several advantages such as savings in time and money, better security as well as convenience since you can send your vat return at any convenient time before the due date. You should enroll the services of an experienced vat agent or consultant to help you file your vat return online in case you are not conversant with computers or with vat paperwork. In addition, if you import goods from other eu countries where vat has already been paid on the same then your vat agent could help by filing online vat refunds to recover the earlier vat amount paid in the country of origin.

The system of vat tax would require you to maintain a vat register along with following the correct process in issuing each vat invoice. The vat rates and amounts mentioned in each vat invoice would then need to be calculated in your monthly, quarterly or yearly returns based on the vat accounting scheme that you have chosen for your business. In fact, hmrc vat also allows you to view your previous vat returns filed after November 2009 while also reminding you about when future vat returns are due.

Opting for online vat services offered by most eu countries including hmrc vat can help you file vat registrations, returns and refunds quickly and safely. You need not worry about misplaced vat documents and can also view vital vat documents online. You should surely take full advantage of vat online services in this fast-paced world to optimize your time while also ensuring better security of your documents.