If you have already paid vat on your goods or services again and want 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 already have been paid earlier in order to reduce your costs and even get relief from the problem of double taxation over your goods or services.
While you won’t be allowed to deduct the https://vatcontrol.com/vat amount of taxes directly from your next vat return, you still be allowed to state that amount in the separate vat refund scheme. This scheme is available in the United Kingdom subject to certain terms and conditions. Most eu countries that follow vat will often have such procedures where vat amounts that have already been paid can be reclaimed. If you are a vat registered trader in the UK that does not have vat registration in the country 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 have not got relief through some other vat scheme. You will need to use 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 UK. On the other hand, since reclaiming rules might differ abroad, 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 in your stead as soon as you let them have a power of attorney or a letter or authority to accomplish this.
You can go for a vat reclaim no after 9 months within 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 the event 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 provided by the hmrc vat website in order to save on time and energy. As soon as you submit the necessary 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 have sent your reclaiming request hmrc will be sending you a confirmation about the same within 15 days while the concerned eu country will usually offer you 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 your original application.
In order to avoid the situation 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 ultizing proper applications. You too can reclaim vat paid in any other eu country that follows vat by reclaiming vat back from that eu country when you use the vat refund scheme.