When you have already paid vat on the goods or services more than once and would like to get 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 in order to reduce your costs and even get relief from the problem of double taxation over your goods or services.
While you won’t be allowed to deduct the vatvalidation.com/vat tax amount straight from your next vat return, you will still be permitted to state that amount in a separate vat refund scheme. This scheme is available in the UK subject to certain terms and conditions. Most eu countries that follow vat will often have such procedures where vat amounts that 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 that 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 make use of 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 the reclaiming rules might differ in other countries, you might 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 on your behalf once you let them have a power of attorney or even a letter or authority to accomplish this.
It is possible to go in for a vat reclaim no after 9 months in a year or so after you’ve paid the vat amount. You will first need to register your organization name and also your agent?s name too in case you plan on reclaiming vat using your agent. You need to use the hm vat refunds service that’s a part of the vat online services offered by the hmrc vat website in order to save on time and effort. Once you submit the necessary online vat form you’ll be issued an online reference number that will indicate that your 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 be attached to your vat refund request. Once you have sent your reclaiming request hmrc will be sending a confirmation regarding the same within 15 days even though the concerned eu country will usually provide you with a vat refund within 4 months, if all your documents are typically in proper order. In the event further information is required from that eu country then you can expect your vat reclaim to be settled after around 8 months of the original application.
To prevent the problem of double taxation, most eu countries that have adopted vat such as the UK offer vat refunds that can be claimed by using proper procedures and ultizing proper applications. You too can claim back vat paid in any other eu country that follows vat by reclaiming vat back from that eu country by using the vat refund scheme.