While reclaiming vat ensure proper procedures are followed

If you have already paid vat on your goods or services again and want to receive the original amount back then while reclaiming vat ensure proper procedures are followed. You may use the vat refund scheme to get back vat which may have already been paid earlier in order to reduce your costs as well as get respite from the problem of double taxation over your goods or services.

While you will not be permitted to deduct the www.vatnumbers.com tax amount directly from the next vat return, you still be allowed to state that amount in the separate vat refund scheme. This scheme is available in the United Kingdom governed by certain 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 are a vat registered trader in the UK that does not have vat registration in the nation of origin you’ll be able to claim any vat paid in that country provided you meet some other vat rules.

You may also claim vat paid in another eu country if you haven’t got relief through some other vat scheme. You will have to make use of a standard vat reclaiming form through the HM revenue and customs or hmrc vat website that looks after the customs, excise and vat department in the UK. However, since reclaiming rules might differ in other countries, 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 in your stead as soon as you let them have a power of attorney or a letter or authority to accomplish this.

It is possible to go in for a vat reclaim no after 9 months in a calendar year after you’ve paid the vat amount. You will first have to register your organization name and also your agent?s name too in the event you plan 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 so as to save on time and effort. Once you submit the required 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.

While you will not need to send any paper documents, certain eu countries might ask for a scanned vat invoice to generally be attached to your vat refund request. Once you’ve sent your reclaiming request hmrc will be sending you a confirmation regarding the same within 15 days even though the concerned eu country will normally provide you with a vat refund within 4 months, if all your documents are typically in proper order. In the event further details are required from that eu country then you can expect your vat reclaim to get settled after around 8 months of your 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 using proper applications. You too can reclaim vat paid in any other eu country that follows vat by reclaiming vat back from that eu country by using the vat refund scheme.