Conduct a vat check of your supplier before finalizing your transaction

If you are a vat registered trader in the UK or perhaps some other member EU country which has embraced vat then you need to conduct a vat check of your supplier before finalizing your transaction, especially if you intend to import goods or services into your country. It is really fairly simple to conduct a vat number check over the internet before you decide to part with your hard-earned money.

VAT or value added tax is a system of taxing goods and services that is followed in a number of countries across the globe including most eu countries. If you are a trader in the United Kingdom that is importing services or goods from other eu countries where vat has already been paid in the country of origin then you can apply 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 purchase 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 into the UK.

However, there may be a chance that an unregistered vat trader might attempt to dupe you of your savings by charging you vat whilst offering you a fake or expired vat number on the vat invoice. When this happens, you might not vat check be able to reclaim any vat on that transaction, which in turn will raise your costs and deny you your rightful refund. It is thus vitally important to conduct a vat check that usually takes only a few minutes when you get on the official European Commission or EUROPA website that allows you to conduct a vat registration check and validate if your supplier has indeed given you a genuine vat number.

All that you should 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 need to do is to pick the eu country of the supplier, type in the vat number of your proposed supplier, choose your country code, and type in your own personal vat number. You may now need to click on verify, upon which the verification software will inform you if the vat number is valid.

If possible, you need to print the validation screen as evidence of having conducted the check at the particular date and time. In the event the registration number isn’t valid then you can tell your supplier since there may be a lot of reasons for this kind of response, including an authentic mistake in supplying 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 fail to conduct a vat number check.

Conducting a vat registration number check is very important if you plan to purchase services or goods from vat registered traders in another country that also follow the system of vat. The exact checking process hardly takes more than a few seconds and performing a vat check will certainly save your valuable business a lot of money and pain should the supplied vat number turns out to be incorrect.