While reclaiming vat ensure proper procedures are followed

If you have already paid vat on the goods or services again and would like to get 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 have already been paid earlier so as to reduce your costs and even get relief from the problem of double taxation over your services or goods.

Although you won’t be allowed to deduct the VAT tax amount directly from your next vat return, you will still be allowed to claim 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 usually have such procedures where vat amounts that have previously been paid can be reclaimed. If you are a vat registered trader in the United Kingdom that doesn’t have vat registration in the nation of origin then you can claim any vat paid in the country provided you meet a few 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 make use of 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 reclaiming rules might differ in other countries, 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 once you let them have a power of attorney or even a letter or authority to do so.

It is possible to go for a vat reclaim no later than 9 months within a calendar year after you’ve paid the vat amount. You will first have to register your organization name and also your agent?s name too in case you intend on reclaiming vat using your agent. You should use the hm vat refunds service that is 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 necessary online vat form you will be issued an online reference number that will indicate that the request has been received by the vat refund department.

Although you will not need to send any paper documents, certain eu countries might ask for a scanned vat invoice to generally be attached to your vat refund request. Once you have sent your reclaiming request hmrc will send a confirmation about the same within 15 days even though the concerned eu country will normally provide you with a vat refund within 4 months, if all of your documents are in proper order. In case 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 situation 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 reclaim 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.