While reclaiming vat ensure proper procedures are followed

If you have already paid vat on the goods or services 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 for getting back vat that might have already been paid earlier in order to reduce your costs and even get respite from the problem of double taxation over your services or goods.

While you will not be permitted to deduct the VAT amount of taxes straight 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 UK governed by certain conditions. Most eu countries that follow vat will often have such procedures where vat amounts that have previously been paid may be reclaimed. If you are a vat registered trader in the United Kingdom that does not have vat registration in the country of origin then you can claim any vat paid in that 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 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. On the other hand, since reclaiming rules might differ abroad, 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 in the relevant country. Your agent can act in your stead as soon as you let them have 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’ve paid the vat amount. You will first need to register your business name and also 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 provided by the hmrc vat website so as to save on time and effort. Once you submit the necessary online vat form you’ll be issued a web based reference number that may indicate that your 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 be attached with 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 provide you with a vat refund within 4 months, if all your documents are in proper order. In the event further information is required from that eu country you’ll be able to expect your vat reclaim to get 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 following proper procedures and ultizing proper applications. You also 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.