VAT, short for Value Added Tax, is a unique number that HMRC provides to businesses when they register for Value Added Tax. In the UK, VAT numbers are nine digits long and always have the prefix 'GB'.

Companies whose annual turnover does not exceed £85k are exempt from VAT. All companies that have passed or are about to pass this threshold must apply for a VAT number. VAT number can be obtained voluntarily even if a company's turnover is below the given limit.

Having a VAT number for your company shows that you are serious about what you do and allows you to be in a prestigious position in the eyes of your potential customers and suppliers. In addition, as a taxpayer, you can get a refund of the value added taxes you have paid for the products and services, or you can deduct the value added taxes that your company must return.

Although it may vary according to the trading activity of your company, VAT applications are concluded between 4 (four) and 8 (eight) weeks on average.