If you are a vat registered dealer or manufacturer in the United Kingdom or other EU country then you must ensure to satisfy all conditions while claiming vat back. Your claim will help offset any expenses directly related to the business or help reduce costs on products imported from another country where you have already paid VAT.
VAT or value added tax is really a system of collecting taxes which has been implemented in many countries around the world including the European Union. It helps in avoiding double taxation on products and if you’re a vat registered trader in the EU with an official vat number then you can www.vatcheck.com/vat surely claim back any VAT that has recently been paid while importing goods imported to your own country. However, you need to fulfill all terms and conditions imposed by the customs and excise customs vat department in your own country before you reclaim vat successfully from the country of origin.
If you’re not conversant with vat rules imposed in your own country then you should hire a vat consultant or tax consultant that is well versed with the latest amendments in vat tax, vat rates, and also knows the appropriate vat refund procedures to be followed while applying for a vat refund. There are several factors that may qualify you to get a vat reclaim. In case you have imported services or goods from another EU country where vat has been paid you’ll be able to reclaim that vat amount provided you don’t own a home or business in that country, are not vat registered in the country, and don’t supply to that country. However, you need to fully comprehend each rule in great detail before claiming vat back since there are other sub-sections in each rule that need to be fulfilled too.
You’ll be able to reclaim vat on import vat if there has been vat paid overseas by using vat online services to register yourself first. If you are in the UK then once you register with hmrc vat online services you will then be in a position to post your request for your vat reclaim either directly or through your vat agent. You will need to send all related documents as proof for claiming vat back and you’ll also need to be conversant with vat rules in the country or countries where the vat amounts have originally been paid.
There’s also a time frame of nine months following end of any calendar year within which you would need to file for a vat claim in UK although the time limit will vary in other Countries in Europe. You will also have to be careful while filling out your vat claim as most EU countries do much more than frown on incorrect or fraudulent claims. You may be penalized for a wrong claim or might also be denied any refunds.
A vat claim will help lower your vat burden provided you meet all the required criteria applicable throughout your home country as well as the country in which you might have originally paid the vat amount. However, it is important to study each vat rule in great detail and understand its implications before claiming vat back directly or through your agent.