While reclaiming vat ensure proper procedures are followed

When you have already paid vat on your goods or services again and want to get the original amount back then while reclaiming vat ensure proper procedures are followed. You may use the vat refund scheme to get back vat that might have already been paid earlier so as to lower your costs as well as get respite from the issue of double taxation over your goods or services.

Although you will not be allowed to deduct the VAT amount of taxes straight from the next vat return, you still be allowed 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 which have previously been paid can be reclaimed. If you’re a vat registered trader in the UK that does not 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 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 vatcheck.com the expertise of a specialist 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 let them have a power of attorney or a letter or authority to do so.

You can go for a vat reclaim no after 9 months in a year or so after you’ve paid the vat amount. You will first have to register your business name and also your agent?s name too in case you intend on reclaiming vat through your agent. You should use the hm vat refunds service that is a part of the vat online services provided by the hmrc vat website in order to reduce time and effort. Once you submit the required online vat form you’ll be issued an online reference number that will indicate that the request is received by the vat refund department.

Although you will not need to send any paper documents, certain eu countries might ask for a scanned vat invoice to be attached to your vat refund request. Once you’ve sent your reclaiming request hmrc will be sending you a confirmation about the same within 15 days even though the concerned eu country will normally provide you with a vat refund within 4 months, if all of your documents are in proper order. In the event further details are 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 which have adopted vat such as the UK offer vat refunds that may be claimed by using proper procedures and ultizing proper applications. You also can claim back vat paid in almost any other eu country that follows vat by reclaiming vat back from that eu country when you use the vat refund scheme.