In case you run a trading business in the UK or other EU country and have imported services or goods that has already paid vat in the nation of origin you’ll be able to claim vat back after vat registration. However, you should study all different rules required for vat refund before you stake your claim for any vat reclaim.
Although tourists and certain other people can claim VAT or vat when they return back to their own country by simply showing the original vat invoice displaying the vat rate and vat amount, businesses need to furnish a lot more details before they are able to qualify for a refund. If you too have imported goods or services www.vatregistrationnumber.com originating from a member EU country into the UK and have already paid vat in the country then to prevent double taxation and reduce your costs, you should surely have a vat refund. Even though you might not be in a position to directly deduct the vat amount as part of your next vat return, you may surely claim vat back from your country of origin provided you follow their vat rules.
If you are not vat registered then you can certainly utilize the vat online services offered by HM customs and excise customs vat or visit the hmrc vat web site to register your organization first. If you are not internet savvy or have trouble in comprehending vat rules then it would be better to appoint a vat agent that delivers all vat services including applying for refunds and handling vat returns. You can now authorize your vat agent to submit your vat claims on your behalf. You may also appoint different vat agents in different countries and register them separately, particularly if you import goods and services from different countries.
You need to make sure that you retain all original documents of vat paid within the original country before you claim vat back. You should fill the vat form for vat reclaim before 9 months within the next calendar year after you have paid the initial vat amount in order to qualify for a vat refund. However, this time period varies in various countries. You need to to climb over language barriers between various EU countries while submitting your tax documents. For example, Poland stipulates that you just attach the faktura vat or tax invoice that is coded in Polish language before it’s sent for any reclaim. When this happens, a local vat agent will be in a very stronger position to understand the precise laws for each country.
After you have submitted all relevant documents to assert vat back, then you should receive the vat refund in the designated time period specified by the specific country. In great britan the time period is usually around 4 months when your own claim is processed and approved without the requirement for additional proof. You can receive your vat refund in any EU country that you want or perhaps the UK provided you’ve got a valid banking account in the desired country. However, you should remember to submit proper documentation since any rejected vat claim will usually be looked with suspicion and handled strictly by the concerned vat authorities of the country.
If your business requires services or goods that have already paid vat in the country of origin before reaching the shores of one’s country in which you have to pay vat again, you’ll be able to claim back the extra vat paid on them. A vat agent that’s amply trained in international and national vat rules will be able to help you towards claiming vat back with ease. For those who have just started trading internationally you’ll be able to claim vat back after vat registration and lower your costs to a large degree.