If you have already paid vat on your goods or services more than once and want to receive the original amount back then while reclaiming vat ensure proper procedures are followed. You can use the vat refund scheme to get back vat that might have already been paid earlier so as to reduce your costs and even get respite from the problem of double taxation over your services or goods.
Although you will not be permitted to deduct the vatvalidation.com/vat amount of taxes directly from the next vat return, you still be allowed to claim that amount in the separate vat refund scheme. This scheme is available in the United Kingdom subject to certain terms and conditions. Most eu countries that follow vat usually have such procedures where vat amounts that have already been paid may be reclaimed. If you are a vat registered trader in the United Kingdom that doesn’t have vat registration in the country of origin then you can claim any vat paid in that country provided you meet some other vat rules.
You may also claim vat paid in another eu country if you haven’t got relief through some other vat scheme. You will need to make use of a standard vat reclaiming form through the HM revenue and customs or hmrc vat website that looks after the customs, excise and vat department in the UK. On the other hand, since reclaiming rules might differ in other countries, you’ll need the expertise of an expert vat agent well-versed in uk vat and eu vat rules to successfully extract vat refunds in the relevant country. Your agent can act on your behalf as soon as you provide them with a power of attorney or a letter or authority to do so.
It is possible to go in for a vat reclaim no after 9 months in a year or so after you’ve paid the vat amount. You will first have to register your business name and also your agent?s name too in case you intend on reclaiming vat through your agent. You should use the hm vat refunds service that’s a part of the vat online services offered by the hmrc vat website so as to reduce time and energy. Once you submit the required online vat form you will be issued an online reference number that may indicate that the request is received by the vat refund department.
Although you will not need to send any paper documents, certain eu countries might request a scanned vat invoice to be attached to your vat refund request. Once you’ve sent your reclaiming request hmrc will be sending you a confirmation regarding the same within 15 days while the concerned eu country will usually offer you a vat refund within 4 months, if all of your documents are typically in proper order. In case any further information is required from that eu country then you can expect your vat reclaim to be settled after around 8 months of your original application.
To prevent the problem of double taxation, most eu countries that have adopted vat such as the UK offer vat refunds that may be claimed by following proper procedures and ultizing proper applications. You too can reclaim vat paid in any other eu country that follows vat by reclaiming vat back from that eu country when you use the vat refund scheme.