Once you have entered the system of VAT or value added tax in the UK then using all vat services offered online by hmrc can save time and effort. Most eu countries that have also adopted vat offer similar services that help businesses file vat returns, vat refunds, and also offer them to study vat rules so as to stay safe within the boundaries of vat.
If you are a trader in the UK that has adopted vat along with other eu countries such as Greece, Poland, Sweden, Germany, etc then there are several services offered online by hmrc or Her Majesty’s Revenue and Customs that can help you even before you turn into a vat registered trader in the UK. You can view all vat rules pertaining to uk vat while also studying eu vat rules and directives issued by the European Commission that guides all eu countries towards a single market. Learning about these rules will help you to quickly get comfortable with the system of vat while also ensuring that you remain on the right side of vat tax laws.
You will only need a computer and an internet connection to get access to various vat services offered online by hmrc vat. In fact, if you are the sole owner of your business then you can directly fill up your vat registration form online and submit it to hmrc so as to get the process rolling without any delay. You can download the applicable vat form for vat registration in case your business is a partnership, trust, corporation, institution, charity, etc but you will need to send filled-up forms by post back to hmrc.
In addition, hmrc also offers several other online services that can be utilized once you get registered at their website. You should appoint a vat agent to represent you in case you do not have the required skills to file vat returns or vat refunds. Your vat agent can also officially register online at hmrc vat to represent you once you provide the required permission. Your agent can now file vat returns and refunds securely on your behalf online so as to save a lot of time and effort that would be otherwise required to send it through post. You will also get some additional time to file your returns since you will now have access to such services on a 24/7 basis. You can also view past returns filed after November, 2009.
Various other eu countries that have also adopted vat offer vat services online to their traders. Just as you would get a chance to study all uk vat rules, other traders in various eu countries too would get a chance to study vat rules in their own country while also getting a chance to observe eu vat rules and directives. These facilities offered by hmrc will help you to stay abreast of the latest notifications on vat and help you to comply with them well in time to avoid any tax complications.
The system of vat can seem a little intimidating if you are on the verge of entering this system of taxation on goods and services. However, if you are a trader in the UK then hmrc offers a host of vat services online including vat registration, vat return and vat refund facilities that can make handling your vat tax issues a lot easier while enabling you to stay focussed on all aspects of your business at the same time.