While reclaiming vat ensure proper procedures are followed

When you have already paid vat on the goods or services more than once 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 already have been paid earlier in order to reduce your costs as well as get relief from the problem of double taxation over your goods or services.

While you will not be allowed to deduct the VAT amount of taxes directly from the next vat return, you still be permitted to claim that amount in the 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 may be reclaimed. If you’re a vat registered trader in the UK 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 some other vat rules.

You can also claim vat paid in another eu country if you haven’t got relief through some other vat scheme. You will have to use a standard vat reclaiming form through the HM revenue and customs or hmrc vat website that looks after the customs, excise and vat department in the United Kingdom. However, since reclaiming rules might differ in other countries, you’ll need the services of an expert 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 in your stead as soon as you provide them with a power of attorney or even a letter or authority to do so.

It is possible to go in for a vat reclaim no after 9 months within a calendar year 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 plan on reclaiming vat through your agent. You need to use the hm vat refunds service that is a part of the vat online services provided by the hmrc vat website in order to reduce time and energy. Once you submit the required online vat form you’ll be issued an online reference number that may 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 request a scanned vat invoice to generally be attached with your vat refund request. Once you have sent your reclaiming request hmrc will send 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 your documents are 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 the original application.

In order to avoid the problem of double taxation, most eu countries which have adopted vat including the UK offer vat refunds that can be claimed by following proper procedures and ultizing proper applications. You too can reclaim vat paid in almost any other eu country that follows vat by reclaiming vat back from that eu country by using the vat refund scheme.