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Three lesser-known Vat registration tips you should use

by , 20 August 2014
Many Vat vendors think Vat registration is a complicated process and they always get it wrong.

This shouldn't be happening.

Vat registration is simple if you have the knowhow. With the right information, you can send your application without any hassles, and before you know it, you'll have your Vat number and be enjoying all the benefits of being on the Vat system.

So where you do get the right information? Right here.

Take a look at the three lesser-known Vat registration tips so you can ensure this process goes smoothly.


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You'll never go wrong if you use these three Vat registration tips
 

Tip #1: It's the person, not the enterprise, who must register for Vat

SARS will register you once for all your enterprises, sections or branches, unless you ask for permission to register the sections or branches separately.

So, if you trade as a sole trader, register in your own name. If your business is a CC or company, register in the name of the CC or company. If you're an association, register in the name of that association.

Tip #2: Have the right documents when you submit your application

When you apply to register as a Vat vendor, you must submit supporting documents with your Vat101 form.

If you get this wrong, SARS won't even look at your application. Check out this article, it contains the type of documents you must submit when you send your application.

Tip #3: Disclose all your trading names

When you register for Vat, disclose all your trading names. If you don't, SARS may deny your customers their input tax deductions. This will lead to unhappy and strained customer relations!

There you have it: Use these tips to ensure your Vat registration goes smoothly. For more useful tips, don't hesitate to check out the Practical Vat Loose Leaf Service.
 

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