In case you run a trading business in the united kingdom or any other EU country and also have imported goods or services which has already paid vat in the country of origin then you can claim vat back after vat registration. However, you should study many different rules necessary for vat refund before you stake your claim for any vat reclaim.
Although tourists and certain other people can claim VAT or value added tax once they go back to their own country simply by showing the original vat invoice displaying the vat rate and vat amount, businesses have to furnish many more details before they can qualify for https://vatvalidation.com reimbursement. In the event you too have imported services or goods originating from a member EU country into the UK and also have already paid vat in that country then to prevent double taxation and reduce your costs, you should surely apply for a vat refund. Even though you may not be able to directly deduct the vat amount in your next vat return, you can surely claim vat back from the country of origin provided you follow their vat rules.
If you are not vat registered then you can utilize the vat online services provided by HM customs and excise customs vat or visit the hmrc vat web site to register your business first. If you’re not internet savvy or have trouble in comprehending vat rules then it would be better to appoint a vat agent that delivers all vat services including obtaining refunds and handling vat returns. You can now authorize your vat agent to submit your vat claims in your stead. You may also appoint different vat agents in different countries and register them separately, especially if you import goods and services from different countries.
You need to ensure that you retain all original documents of vat paid in the original country before you claim vat back. You need to fill the vat form for vat reclaim before 9 months within the next calendar year after you have paid the initial vat amount in order to qualify for a vat refund. However, this time around period varies in different countries. You need to to climb over language barriers between various EU countries while submitting your tax documents. For example, Poland stipulates that you just attach the faktura vat or tax invoice that is coded in Polish language before it’s sent for a reclaim. When this happens, the local vat agent will be in a very better position to understand the precise laws of each country.
Once you have submitted all relevant documents to assert vat back, then you ought to receive the vat refund in the designated time period specified by the specific country. In great britan the timeframe is generally around 4 months when your claim is processed and approved without the requirement for additional proof. You may receive your vat refund in a EU country that you want or even in britain provided you’ve got a valid bank account in the desired country. However, remember that to submit proper documentation since any rejected vat claim will most likely be looked with suspicion and handled strictly by the concerned vat authorities of that country.
In case your business requires services or goods that have already paid vat in the country of origin before reaching the shores of one’s country where you need to pay vat again, then you can reclaim the excess vat paid on them. A vat agent that is amply trained in international and national vat rules will be able to help you towards claiming vat back with ease. If you have just started trading internationally you’ll be able to claim vat back after vat registration and reduce your costs to some great extent.