While reclaiming vat ensure proper procedures are followed

If you have already paid vat on your services or goods again and would like to receive the original amount back then while reclaiming vat ensure proper procedures are followed. You can use the vat refund scheme to get back vat which may already have been paid earlier in order to lower your costs and even get respite from the issue of double taxation over your services or goods.

While you will not be permitted to deduct the VAT tax amount straight from your next vat return, you still be allowed to claim that amount in a separate vat refund scheme. This scheme is available in the UK subject to certain conditions. Most eu countries that follow vat will often have such procedures where vat amounts that have previously been paid can be reclaimed. If you’re a vat registered trader in the UK that does not have vat registration in the country of origin then you can 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 haven’t got relief through any other vat scheme. You will have 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 United Kingdom. On the other hand, since the reclaiming rules might differ abroad, you’ll need the expertise of a specialist 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 on your behalf as soon as you let them have a power of attorney or a letter or authority to accomplish this.

It is possible to go for a vat reclaim no later than 9 months in a calendar year after you have paid the vat amount. You may first need to register your business name and also your agent?s name too in the event you plan on reclaiming vat using 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 so as to reduce time and energy. Once you submit the required online vat form you’ll be issued an online 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 generally be attached to your vat refund request. Once you’ve sent your reclaiming request hmrc will be sending a confirmation regarding the same within 15 days while the concerned eu country will normally offer you a vat refund within 4 months, if all of your documents are typically in proper order. In case 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 situation of double taxation, most eu countries which have adopted vat including the UK offer vat refunds that may be claimed by using proper procedures and ultizing 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 when you use the vat refund scheme.