When you have already paid vat on your services or goods more than once and want to receive 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 so as to lower your costs as well as get respite from the issue of double taxation over your goods or services.
Although you won’t be allowed to deduct the http://vatnumbers.com amount of taxes 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 United Kingdom governed by certain terms and conditions. Most eu countries that follow vat will often have such procedures where vat amounts which have previously been paid may be reclaimed. If you are a vat registered trader in the UK that does not have vat registration in the country of origin then you can 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 have not 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. However, since reclaiming rules might differ abroad, you might need 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 on your behalf once you let them have a power of attorney or even a letter or authority to do so.
It is possible to go in for a vat reclaim no later than 9 months in a calendar year after you have paid the vat amount. You may first need to register your business name and your agent?s name too in the event you intend on reclaiming vat through your agent. You should use the hm vat refunds service that’s a part of the vat online services offered by the hmrc vat website so as to reduce time and energy. As soon as you submit the required online vat form you will 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 ask for a scanned vat invoice to be attached to your vat refund request. Once you have sent your reclaiming request hmrc will be sending 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 of your documents are in proper order. In case any further details are required from that eu country then you can expect your vat reclaim to be settled after around 8 months of your original application.
To prevent the problem of double taxation, most eu countries which have adopted vat including the UK offer vat refunds that may be claimed by following proper procedures and ultizing proper applications. You also can reclaim vat paid in any other eu country that follows vat by reclaiming vat back from that eu country when you use the vat refund scheme.