It is possible to claim vat back after vat registration
If you operate a trading business in the UK or other EU country and have imported goods or services which has already paid vat in the nation of origin then you can claim vat back after vat registration. However, it is important to study many different rules required for vat refund before you decide to stake your claim for any vat reclaim.
Although tourists and certain other people can claim VAT or vat once they return back to their own country by simply showing the initial vat invoice displaying the vat rate and vat amount, businesses have to furnish a lot more details before they can be eligible for a vatvalidation.com a refund. In the event you too have imported services or goods from a member EU country to the UK and also have already paid vat in the country then to prevent double taxation and lower your costs, you ought to surely apply for a vat refund. Although you might not be in a position to directly deduct the vat amount as part of your next vat return, you may surely claim vat back from the country of origin provided you follow their vat rules.
If you are not vat registered then you can certainly use the vat online services offered by HM customs and excise customs vat or visit the hmrc vat website to register your business first. If you’re not internet savvy or have trouble in comprehending vat rules it could well be better to appoint a vat agent that provides all vat services including obtaining refunds and handling vat returns. Now you can authorize your vat agent to submit your vat claims on your behalf. You may also appoint different vat agents in several countries and register them separately, particularly if you import goods and services from different countries.
You should ensure that you retain all original documents of vat paid within the original country before you claim vat back. You should fill up the vat form for vat reclaim before 9 months within the next calendar year once you have paid the initial vat amount so that you can be eligible for a a vat refund. However, this time around period varies in different countries. You might also need 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 which is written in Polish language before it’s sent for any reclaim. When this happens, a local vat agent will be in a stronger position to comprehend the specific laws of each country.
Once you have submitted all relevant documents to assert vat back, then you ought to receive the vat refund within the designated time frame specified by the exact country. In great britan the time period 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 any EU country that you want or perhaps the UK 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.
If your business requires goods or services that have already paid vat in the country of origin before reaching the shores of one’s country in which you have to pay vat again, you’ll be able to claim back the extra vat paid on them. A vat agent that’s amply trained in international and national vat rules will be able to guide you towards claiming vat back without difficulty. If you have just started trading internationally then you can claim vat back after vat registration and lower your costs to a great extent.