While reclaiming vat ensure proper procedures are followed

When you have already paid vat on the services or goods more than once 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 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 permitted to deduct the VAT amount of taxes directly from your next vat return, you will still be allowed to claim 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 usually have such procedures where vat amounts that have previously been paid can be reclaimed. If you’re a vat registered trader in the United Kingdom that doesn’t have vat registration in the country of origin you’ll be able to claim any vat paid in that country provided you meet some other vat rules.

You may also claim vat paid in another eu country if you have not got relief through any other vat scheme. You will have 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. On the other hand, since the reclaiming rules might differ abroad, you’ll need the expertise of a specialist vat agent well-versed in uk vat and eu vat rules to successfully extract vat refunds from the relevant country. Your agent can act in your stead once you let them have a power of attorney or a letter or authority to do so.

You can go for a vat reclaim no after 9 months within a calendar year after you have paid the vat amount. You may first have to register your business name and also your agent?s name too in the event you intend on reclaiming vat using your agent. You need to use the hm vat refunds service that is a part of the vat online services provided by the hmrc vat website so as to reduce time and effort. Once you submit the required online vat form you’ll be issued an online reference number that may indicate that the request has been received by the vat refund department.

Although you will not need to send any paper documents, certain eu countries might request a scanned vat invoice to generally be attached with your vat refund request. Once you have sent your reclaiming request hmrc will be sending a confirmation about the same within 15 days while the concerned eu country will usually provide you with a vat refund within 4 months, if all your documents are in proper order. In the event 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 situation of double taxation, most eu countries which have adopted vat such as the UK offer vat refunds that can be claimed by using proper procedures and using 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.