When you have already paid vat on your services or goods again and would like to receive the original amount back then while reclaiming vat ensure proper procedures are followed. You can use the vat refund scheme for getting back vat which may already have been paid earlier so as to lower your costs and even 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 straight from your next vat return, you will still be permitted 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 usually have such procedures where vat amounts which have already been paid may be reclaimed. If you are a vat registered trader in the UK that doesn’t have vat registration in the country of origin then you can claim any vat paid in that 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 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’ll need https://vatcheck.com the services of a specialist vat agent well-versed in uk vat and eu vat rules to ensure that you extract vat refunds from the relevant country. Your agent can act in your stead 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 after 9 months in a calendar year after you’ve 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 using 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 so as to save on time and effort. As soon as you submit the necessary online vat form you’ll 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 request a scanned vat invoice to be attached with your vat refund request. Once you have sent your reclaiming request hmrc will send you a confirmation regarding the same within 15 days while the concerned eu country will normally offer you a vat refund within 4 months, if all your documents are in proper order. In the event further information is required from that eu country then you can expect your vat reclaim to get settled after around 8 months of the original application.
In order to avoid 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 claim back 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.