What is a Vat Number?
A VAT number is a unique reference number that means you are registered for VAT purposes with HM Customs and Revenue. You can obtain one very easily from HMCE by registering for VAT – you complete a simple form. First you need to be sure that it will be to your advantage – whether you have the option to register or not depends on what your business turnover is. Whether you get more VAT back than you pay depends on what type of sales you make and what type of purchases you make. Contrary to popular myth the taxman is actually very helpful when you are considering registering and they produce a number of very helpful explanatory booklets that you can download from their website.
