While reclaiming vat ensure proper procedures are followed

 

When you have already paid vat on the services or goods again and want to get the original amount back then while reclaiming vat ensure proper procedures are followed. You can use the vat refund scheme for getting back vat that might have already been paid earlier so as to reduce your costs as well as get respite from the issue of double taxation over your goods or services.

While you will not be permitted to deduct the VAT amount of taxes directly 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 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 can be reclaimed. If you’re a vat registered trader in the United Kingdom that does not 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 may 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 UK. On the other hand, since the reclaiming rules might differ abroad, 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 on your behalf once you provide them with a power of attorney or a letter or authority to do so.

You can go for a vat reclaim no after 9 months in a calendar year after you’ve paid the vat amount. You may first need to register your business name and your agent?s name too in case you plan on reclaiming vat through your agent. You should use the hm vat refunds service that is a part of the vat online services provided by the hmrc vat website so as to reduce time and effort. As soon as you submit the necessary online vat form you will be issued a web based reference number that will 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 with your vat refund request. Once you have sent your reclaiming request hmrc will send you a confirmation regarding the same within 15 days even though the concerned eu country will usually provide you with a vat refund within 4 months, if all of your documents are in proper order. In the event any further details are required from that eu country you’ll be able to expect your vat reclaim to get 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 such as the UK offer vat refunds that can be claimed by using proper procedures and ultizing proper applications. You also can claim back vat paid in any other eu country that follows vat by reclaiming vat back from that eu country by using the vat refund scheme.