If you have already paid vat on the services or goods more than once and would like to get the original amount back then while reclaiming vat ensure proper procedures are followed. You may use the vat refund scheme for getting back vat which may already have been paid earlier in order to lower your costs and even get respite from the issue of double taxation over your services or goods.
While you will not be permitted to deduct the http://vatnumbers.com tax amount straight from the next vat return, you still be permitted to state that amount in a separate vat refund scheme. This scheme is available in the UK governed by certain conditions. Most eu countries that follow vat usually have such procedures where vat amounts which have previously been paid may be reclaimed. If you’re 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 a few other vat rules.
You may also claim vat paid in another eu country if you have not got relief through some other vat scheme. You will need 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 UK. On the other hand, since the reclaiming rules might differ in other countries, you might need the expertise of a specialist vat agent well-versed in uk vat and eu vat rules to successfully extract vat refunds from the relevant country. Your agent can act in your stead as soon as you let them have a power of attorney or even a letter or authority to accomplish this.
It is possible to go for a vat reclaim no after 9 months in a year or so after you have paid the vat amount. You will first need to register your business name and your agent?s name too in case you intend on reclaiming vat through 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 in order to reduce time and effort. As soon as you submit the required online vat form you’ll be issued an online reference number that will indicate that the request is received by the vat refund department.
While you will not need to send any paper documents, certain eu countries might ask for a scanned vat invoice to generally be attached to your vat refund request. Once you’ve sent your reclaiming request hmrc will be sending a confirmation regarding the same within 15 days while the concerned eu country will normally provide you with a vat refund within 4 months, if all your documents are typically in proper order. In the event 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 your original application.
In order to avoid the problem of double taxation, most eu countries that have adopted vat including the UK offer vat refunds that can be claimed by following proper procedures and using proper applications. You also can claim back 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.