If you’re a vat registered trader in the United Kingdom or even in any other member EU country which has embraced vat you will want to conduct a vat check of your supplier before finalizing your transaction, especially if you intend to import goods or services into your country. It is actually quite simple to conduct a vat number check http://vatcontrol.com/vat on the internet before you decide to 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 around the world including most eu countries. If you’re a trader in the United Kingdom that may be importing goods or services from other eu countries where vat has already been paid in the country of origin you’ll be able to make application for a vat refund. This may permit you to reclaim vat paid earlier in order to avoid double-taxation. However, it is important that you simply buy your goods originating from a vat registered trader or exporter in another country so that the chain of vat continues as soon as 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 providing you with a fake or expired vat number on the vat invoice. In such a case, you may not have the ability to reclaim any vat on that transaction, which in turn will raise your costs and deny you your rightful refund. It is thus very important to conduct a vat check that usually takes only a few minutes when you get on the official European Commission or EUROPA website that allows you to conduct a vat registration check and validate if the supplier has indeed provided you with an authentic vat number.
All that you should do is log on to the EUROPA website ec.europa.eu directly or visit the hmrc vat department website and follow the link provided at the site. All you have to do is always to choose the eu country of your supplier, type in the vat number of your proposed supplier, choose your own country code, and type in your own vat number. You may now have to click on verify, upon which the verification software will inform you if your vat number is valid.
Whenever possible, you need to print the validation screen as proof of having conducted the check at the particular date and time. In the event the registration number is not valid you’ll be able to inform your supplier since there may be many reasons for this kind of response, including a genuine mistake in providing you with the vat number to willful wrongdoing on the supplier?s part. You should remember that ultimately it is your business which will suffer if you don’t conduct a vat number check.
Conducting a vat registration number check is extremely important if you plan to buy goods or services from vat registered traders in another country that also adheres to 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 ends up being incorrect.