If you are a vat registered trader in the UK or even in some other member EU country which has embraced vat you will want to conduct a vat check of the supplier before finalizing your transaction, particularly if you plan to import services or goods into your country. It is actually fairly simple to conduct a vat number check on the internet before you part with your hard-earned money.
VAT or value added tax is a system of taxing goods and services that’s followed in several countries across the globe including most eu countries. If you are a trader in the United Kingdom that may be importing goods or services from other eu countries where check vat number vat was already paid in the country of origin you’ll be able to make application for a vat refund. This will permit you to reclaim vat paid earlier in order to avoid double-taxation. However, it is important that you simply buy your goods originating from a vat registered trader or exporter overseas so the chain of vat continues as soon as the services or goods are imported to the UK.
However, there may be a chance that an unregistered vat trader might try to dupe you of your savings by charging you vat even while offering you a fake or expired vat number on the vat invoice. In such a case, you might not have the ability to reclaim any vat on that transaction, which in turn will raise the costs and deny you your rightful refund. It is actually thus vitally important to conduct a vat check that typically takes only a few minutes when 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 given you 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 have to do is to choose the eu country of the supplier, enter the vat number of your proposed supplier, choose your own country code, and type in your own vat number. You will now have to click on verify, upon which the verification software will inform you if the vat number is valid.
Whenever possible, you should try to print the validation screen as proof of having conducted the check at a 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 this kind of response, including a genuine mistake in providing you with the vat number to willful wrongdoing on your supplier?s part. You should remember that ultimately it’s your business which will suffer if you don’t conduct a vat number check.
Conducting a vat registration number check is extremely important if you plan to buy goods or services from vat registered traders in a foreign country that also follow the system of vat. The actual checking process hardly takes more than a few seconds and performing a vat check will definitely save your valuable business lots of money and pain should the supplied vat number ends up being incorrect.