While reclaiming vat ensure proper procedures are followed

When you have already paid vat on your goods or services 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 in order to reduce your costs as well as get relief from the issue of double taxation over your goods or services.

While you will not be allowed to deduct the VAT tax amount directly from your next vat return, you still be permitted 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 which have already been paid may be reclaimed. If you are a vat registered trader in the United Kingdom that does not have vat registration in the nation 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 haven’t got relief through some 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’ll need the expertise 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 once you provide them with 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 in a calendar year after you’ve paid the vat amount. You may first need to register your organization name and also your agent?s name too in case you plan on reclaiming vat through your agent. You should use the hm vat refunds service that is a part of the vat online services provided by the hmrc vat website so as to save on time and energy. As soon as you submit the required online vat form you’ll be issued a web based reference number that will indicate that your request is 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’ve sent your reclaiming request hmrc will be sending you a confirmation regarding 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 typically in proper order. In case further details are required from that eu country then you can expect your vat reclaim to get settled after around 8 months of the original application.

To prevent the problem of double taxation, most eu countries that have adopted vat including the UK offer vat refunds that may be claimed by using proper procedures and using proper applications. You too 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.