If you have already paid vat on the goods or services again and would like 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 in order to lower your costs and even get relief from the problem of double taxation over your goods or services.
While you will not be permitted to deduct the http://vatcontrol.com/vat tax amount straight from the next vat return, you still be allowed to claim that amount in a separate vat refund scheme. This scheme is available in the UK subject to certain terms and conditions. Most eu countries that follow vat usually have such procedures where vat amounts which have previously been paid can be reclaimed. If you’re a vat registered trader in the UK that doesn’t have vat registration in the country of origin you’ll be able to claim any vat paid in the country provided you meet a few other vat rules.
You can also claim vat paid in another eu country if you have not got relief through any other vat scheme. You will have to make use of a standard vat reclaiming form from the HM revenue and customs or hmrc vat website that looks after the customs, excise and vat department in the United Kingdom. On the other hand, since reclaiming rules might differ in other countries, you’ll need the expertise of a specialist vat agent well-versed in uk vat and eu vat rules to ensure that you extract vat refunds from the relevant country. Your agent can act on your behalf once you let them have a power of attorney or a letter or authority to do so.
You can go in for a vat reclaim no after 9 months in a calendar year after you have paid the vat amount. You may first need to register your organization name and your agent?s name too in the event you plan on reclaiming vat using your agent. You need to use the hm vat refunds service that is a part of the vat online services offered by the hmrc vat website so as to reduce time and effort. Once you submit the necessary online vat form you will be issued an online reference number that may indicate that your request has been received by the vat refund department.
While you will not need to send any paper documents, certain eu countries might request a scanned vat invoice to generally be attached with your vat refund request. Once you have sent your reclaiming request hmrc will be sending you a confirmation about the same within 15 days even though the concerned eu country will normally provide you with 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 you’ll be able to expect your vat reclaim to be settled after around 8 months of the original application.
In order to avoid the situation of double taxation, most eu countries which have adopted vat including the UK offer vat refunds that may be claimed by using proper procedures and ultizing proper applications. You also can reclaim vat paid in almost any other eu country that follows vat by reclaiming vat back from that eu country when you use the vat refund scheme.