While reclaiming vat ensure proper procedures are followed
When you have already paid vat on your goods or services again and would like to get the original amount back then while reclaiming vat ensure proper procedures are followed. You can use the vat refund scheme for getting back vat that might already have been paid earlier in order to lower your costs as well as get relief from the problem of double taxation over your goods or services.
Although you will not be allowed to deduct the https://vatcontrol.com/vat tax amount directly from the next vat return, you still be permitted to state that amount in a separate vat refund scheme. This scheme is available in the UK governed by certain terms and conditions. Most eu countries that follow vat usually have such procedures where vat amounts which have already been paid can be reclaimed. If you are a vat registered trader in the United Kingdom that doesn’t have vat registration in the country of origin you’ll be able to claim any vat paid in the country provided you meet some other vat rules.
You can also claim vat paid in another eu country if you have not got relief through any other vat scheme. You will have to use 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. On the other hand, since the reclaiming rules might differ abroad, you might need the expertise of an expert vat agent well-versed in uk vat and eu vat rules to ensure that you extract vat refunds from the relevant country. Your agent can act on your behalf once you provide them with a power of attorney or a letter or authority to accomplish this.
You can go in for a vat reclaim no later than 9 months within a calendar year after you’ve paid the vat amount. You may first need to register your organization name and your agent?s name too in case you intend on reclaiming vat using your agent. You need to use the hm vat refunds service that is a part of the vat online services offered by the hmrc vat website in order to save on time and energy. As soon as you submit the required online vat form you will be issued a web based reference number that will indicate that the 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 generally be attached to your vat refund request. Once you’ve sent your reclaiming request hmrc will send a confirmation about 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 in proper order. In case any further details are required from that eu country you’ll be able to expect your vat reclaim to be settled after around 8 months of the original application.
To prevent the situation of double taxation, most eu countries which have adopted vat including the UK offer vat refunds that may be claimed by using proper procedures and using proper applications. You also 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.