How To Register Business Vat
You or your tax agent can register your business for vat through revenue s online services ros.
How to register business vat. To compete your vat registration you ll have to supply your business contact details bank account unique tax reference number details of your turnover and the nature of your business. In order to gain access to the vat online services you must first have registered for hmrc online services or the government gateway. How to register for vat. Login to sars efiling 3. Your effective date of registration.
Whatever your business structure you may need to register for vat or equally take advantage of the benefits of being vat registered. When to submit your first vat return and payment. To avail of this facility your business must be established in the state. A business may also register voluntarily if the income earned in the past 12 month period exceeded r50 000. Vat vendors can also request and obtain a vat notice of registration on efiling.
Once your income reaches the 85 000 limit on your vatable turnover then you can register for vat online. Most businesses can register online including partnerships and a group of companies registering under one vat number. Follow these easy steps. What registration forms should you complete online. You must register if by the end of any month your total vat taxable turnover for the last 12 months was over 85 000.
Essential documents for vat registration. Some goods and services are exempt from vat such as education and health. In the uk you need to register your business for value added tax vat if your vat taxable turnover exceeds 85 000. Click sars registered details on the side menu 5. By doing this you ll register for vat and create a vat online account.
There are currently two ways to register for vat. When to register for vat. Select vat and follow the final steps to complete your vat registration application. Go to the organizations main menu 4. You must register your business for value added tax vat if the total value of taxable goods or services is more than r1 million in a 12 month period or is expected to exceed this amount.