While reclaiming vat ensure proper procedures are followed

When you have already paid vat on the services or goods again 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 have already been paid earlier so as to lower your costs as well as get relief from the issue of double taxation over your goods or services.

Although you will not be allowed to deduct the VAT tax amount straight from the next vat return, you still be allowed to state that amount in a 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 which have previously been paid can be reclaimed. If you’re a vat registered trader in the United Kingdom 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 have not 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 in other countries, you’ll need the services 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.

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 will first have to register your business name and your agent?s name too in the event 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 offered by the hmrc vat website in order to reduce time and energy. Once you submit the required online vat form you will be issued an online reference number that may indicate that the 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 generally be attached with your vat refund request. Once you’ve sent your reclaiming request hmrc will send you a confirmation about 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 typically in proper order. In the event further information is required from that eu country then you can 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 such as 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 by using the vat refund scheme.