If 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 may use the vat refund scheme to get back vat that might already have been paid earlier so as to lower your costs and even get respite from the issue of double taxation over your services or goods.
While you won’t be allowed to deduct the VAT tax amount 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 UK subject to certain conditions. Most eu countries that follow vat will often have such procedures where vat amounts which have already been paid may be reclaimed. If you’re 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 a few 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 need to make use of a standard vat reclaiming form through the HM revenue and customs or hmrc vat website that looks after the customs, excise and vat department in the UK. However, since the reclaiming rules might differ in other countries, you’ll need vatcheck.com the services of an expert vat agent well-versed in uk vat and eu vat rules to successfully extract vat refunds in the relevant country. Your agent can act on your behalf once you provide them with a power of attorney or even a letter or authority to accomplish this.
It is possible to go for a vat reclaim no later than 9 months in a calendar year after you’ve paid the vat amount. You will first need to register your organization name and 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 offered by the hmrc vat website so as to reduce time and effort. Once you submit the necessary online vat form you will be issued a web based 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 to 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 normally provide you with a vat refund within 4 months, if all your documents are typically in proper order. In case further details are required from that eu country you’ll be able to expect your vat reclaim to get settled after around 8 months of your original application.
In order to avoid the situation of double taxation, most eu countries which have adopted vat such as the UK offer vat refunds that may be claimed by using proper procedures and using proper applications. You also can reclaim 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.