While reclaiming vat ensure proper procedures are followed

When you have already paid vat on the goods or services more than once and would like to receive the original amount back then while reclaiming vat ensure proper procedures are followed. You may use the vat refund scheme to get back vat which may already have been paid earlier so as to lower your costs as well as get respite from the problem of double taxation over your goods or services.

While you will not be permitted to deduct the vatcontrol.com/vat tax amount directly from your next vat return, you still be permitted to claim that amount in the separate vat refund scheme. This scheme is available in the United Kingdom governed by certain terms and 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 UK that does not have vat registration in the nation of origin you’ll be able to claim any vat paid in the country provided you meet some 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 use 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 reclaiming rules might differ abroad, you’ll need the expertise of an expert vat agent well-versed in uk vat and eu vat rules to ensure that you extract vat refunds in the relevant country. Your agent can act on your behalf as soon as you let them have a power of attorney or even a letter or authority to do so.

You can go for a vat reclaim no later than 9 months within a year or so after you have 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 need to use the hm vat refunds service that’s a part of the vat online services offered by the hmrc vat website in order to reduce time and energy. Once you submit the necessary online vat form you’ll be issued a web based reference number that will 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 ask for a scanned vat invoice to 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 while the concerned eu country will usually offer you a vat refund within 4 months, if all of your documents are in proper order. In the event further details are required from that eu country then you can expect your vat reclaim to be settled after around 8 months of your original application.

In order to avoid the situation of double taxation, most eu countries which have adopted vat such as the UK offer vat refunds that may be claimed by using proper procedures and using proper applications. You too 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.