While reclaiming vat ensure proper procedures are followed

When you have already paid vat on the services or goods more than once and want to receive 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 so as to reduce your costs and even get relief from the issue of double taxation over your services or goods.

While you won’t be permitted to deduct the VAT tax amount directly from the next vat return, you will still be allowed to state that amount in the separate vat refund scheme. This scheme is available in the United Kingdom subject to certain conditions. Most eu countries that follow vat will often have such procedures where vat amounts that have already 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 that country provided you meet a few other vat rules.

You can also claim vat paid in another eu country if you haven’t got relief through any other vat scheme. You will need to make use of 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 UK. On the other hand, since 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 as soon as you provide them with a power of attorney or a letter or authority to do so.

It is possible to go for a vat reclaim no after 9 months within a year or so after you’ve paid the vat amount. You may first have to register your organization name and your agent?s name too in the event you intend on reclaiming vat through your agent. You should use the hm vat refunds service that’s a part of the vat online services offered by the hmrc vat website so as to reduce time and effort. As soon as you submit the required online vat form you’ll be issued an online reference number that may 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 request a scanned vat invoice to be attached with your vat refund request. Once you’ve sent your reclaiming request hmrc will send a confirmation regarding the same within 15 days while 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 then you can expect your vat reclaim to get settled after around 8 months of the original application.

In order to avoid the situation of double taxation, most eu countries that have adopted vat such as 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 by using the vat refund scheme.