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 may use the vat refund scheme for getting back vat which may have already been paid earlier in order to reduce your costs and even get relief from the issue of double taxation over your goods or services.
Although you won’t be allowed to deduct the vatnumbers.com tax amount straight from your next vat return, you still be permitted to state that amount in the separate vat refund scheme. This scheme is available in the United Kingdom governed by certain conditions. Most eu countries that follow vat will often have such procedures where vat amounts which 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 you’ll be able to claim any vat paid in the country provided you meet some other vat rules.
You can also claim vat paid in another eu country if you haven’t got relief through any other vat scheme. You will have 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 United Kingdom. On the other hand, since the reclaiming rules might differ in other countries, you’ll need the expertise 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 provide them with a power of attorney or even a letter or authority to do so.
You can go in for a vat reclaim no after 9 months in a year or so after you have paid the vat amount. You will first need to register your organization name and your agent?s name too in case you intend on reclaiming vat using your agent. You need to use the hm vat refunds service that’s a part of the vat online services offered by the hmrc vat website in order to reduce time and energy. As soon as you submit the necessary online vat form you will be issued an online reference number that may indicate that the request is received by the vat refund department.
While you will not need to send any paper documents, certain eu countries might ask for a scanned vat invoice to be attached with your vat refund request. Once you’ve sent your reclaiming request hmrc will be sending a confirmation about the same within 15 days even though 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 any 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.
To prevent the problem of double taxation, most eu countries that have adopted vat including the UK offer vat refunds that can be claimed by using proper procedures and ultizing proper applications. You also can claim back vat paid in almost any other eu country that follows vat by reclaiming vat back from that eu country by using the vat refund scheme.