If you are a vat registered trader in the United Kingdom or perhaps any other member EU country that has embraced vat then you need to conduct a vat check of the supplier before finalizing your transaction, especially if you intend to import services or goods into your country. It is actually quite simple to conduct a vat number check over the internet before you spend your hard-earned money.
VAT or value added tax is a system of taxing goods and services that’s followed in a number of countries around the world including most eu countries. If you are a trader in the United Kingdom that is importing services or goods from other eu countries where vat was already paid in the nation of origin then you can apply for a vat refund. This may permit you to reclaim vat paid earlier so as to avoid double-taxation. However, it is necessary that you buy your goods from a vat registered trader or exporter overseas so the chain of vat continues when the services or goods are imported into the UK.
However, there just might be a possibility that an unregistered vat trader might try to dupe you of your savings by charging you vat whilst providing you with a fake or expired vat number on the vat invoice. When this happens, you might not vat check be able to reclaim any vat on that transaction, which inturn will raise the costs and deny you your rightful refund. It is thus vitally important to conduct a vat check that usually takes only a few minutes whenever you log on to the official European Commission or EUROPA website that permits you to conduct a vat registration check and validate if your supplier has indeed provided you with an authentic vat number.
All you need to do is log on to the EUROPA website ec.europa.eu directly or visit the hmrc vat department website and check the page provided at the site. All you need to do is always to choose the eu country of the supplier, enter the vat number of your proposed supplier, choose your own country code, and enter your own vat number. You may now need to click on verify, upon which the verification software will inform you if your vat number is valid.
If possible, you should try to print the validation screen as evidence of having conducted the check at the particular date and time. In the event the registration number is not valid then you can tell your supplier since there could be a lot of reasons for such a response, including an authentic mistake in supplying you with the vat number to willful wrongdoing on your supplier?s part. You sould never forget that ultimately it’s your business which will suffer if you fail to conduct a vat number check.
Conducting a vat registration number check is extremely important if you plan to purchase goods or services from vat registered traders in another country that also follow the system of vat. The actual checking process hardly takes more than a few seconds and conducting a vat check will certainly save your valuable business lots of money and pain should the supplied vat number ends up being incorrect.