Apply for VAT Before the Tax Preparation Process

It will take a while for you to get your VAT number in order to use it for tax preparation. It usually takes about one month for the UK tax authorities to approve your application. If the authorities need to do some more checks, it might take longer. During the tax preparation process, you need to account for the amount you are required to pay from the date you were suppose to register. This has to be followed even if you do not have your VAT registration certificate and number. HR and Payroll 

If you application is approved, you get a certificate that will indicate your VAT number. The application can be turned down if it is fraudulent. If the authorities need to carry out more checks on your application, they will inform you in advance. Additional checks are usually completed within three months from the date you applied.

You are not allowed to charge your customers any VAT until you get your registration number. To make sure you do not suffer losses during this period, you are allowed to increase your prices to cover the current VAT rates. It is important to explain this to all your customers before you increase the prices of goods and services in your store.

Author: king.97

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