If you’re a vat registered trader in the UK or perhaps any other member EU country which has embraced vat you will want to conduct a vat check of the supplier before finalizing your transaction, especially if you intend to import goods or services to your country. It is really fairly simple to conduct a vat number check over the internet before you part with your hard-earned money.
VAT or value added tax is a system of taxing products or services that’s followed in several countries across the globe including most eu countries. If you are a trader in the UK that may be importing services or goods from other eu countries where vat was already paid in the country of origin you’ll be able to make application for a vat refund. This will permit you to reclaim vat paid earlier in order to avoid double-taxation. However, it is necessary that you buy your goods originating from a vat registered trader or exporter overseas so the chain of vat continues when the goods or services are imported to the UK.
However, there just might be a possibility that an unregistered vat trader might attempt to dupe you of your savings by charging you vat whilst offering you a fake or expired vat number on the vat invoice. When this happens, you may not vatcheck be able to reclaim any vat on that transaction, which inturn will raise your costs and deny you your rightful refund. It is actually thus vitally important to conduct a vat check that usually takes a short time when you log on to the official European Commission or EUROPA website that permits you to conduct a vat registration check and validate if your supplier has indeed provided you with a genuine vat number.
All you need to do is log on to the EUROPA website ec.europa.eu directly or visit the hmrc vat department website and check the page provided at the website. All you need to do is to pick the eu country of your supplier, type in the vat number of your proposed supplier, choose your country code, and enter your own personal vat number. You will now need to click on verify, upon which the verification software will inform you if the vat number is valid.
If possible, you need to print the validation screen as proof of having conducted the check at a particular date and time. If the registration number isn’t valid you’ll be able to inform your supplier since there may be many reasons for such a response, including a genuine mistake in supplying you with the vat number to willful wrongdoing on your supplier?s part. You sould never forget that ultimately it’s your business that will suffer if you don’t conduct a vat number check.
Conducting a vat registration number check is extremely important if you are planning to buy goods or services from vat registered traders in a foreign country that also follow the system of vat. The actual checking process hardly takes more than a few seconds and performing a vat check will certainly save your business a lot of money and pain should the supplied vat number turns out to be incorrect.