While reclaiming vat ensure proper procedures are followed

When you have already paid vat on your goods or services more than once and want to receive the original amount back then while reclaiming vat ensure proper procedures are followed. You can use the vat refund scheme to get back vat which may already have been paid earlier in order to lower your costs as well as get relief from the issue of double taxation over your services or goods.

Although you will not be permitted to deduct the https://vatcontrol.com/vat amount of taxes straight from your next vat return, you will still be allowed to claim 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 that have already 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 then you can claim any vat paid in the 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 use 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 United Kingdom. However, since the reclaiming rules might differ abroad, you’ll need the services of an expert vat agent well-versed in uk vat and eu vat rules to ensure that you extract vat refunds in the relevant country. Your agent can act in your stead once you provide them with a power of attorney or a letter or authority to do so.

It is possible to go for a vat reclaim no later than 9 months within a year or so after you have paid the vat amount. You will first need to register your organization name and your agent?s name too in case you intend on reclaiming vat through your agent. You need to use the hm vat refunds service that’s a part of the vat online services provided by the hmrc vat website in order to save on time and effort. Once you submit the required online vat form you will be issued an online reference number that will indicate that your 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 generally be attached to your vat refund request. Once you have sent your reclaiming request hmrc will be sending you 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 the event any 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 may be claimed by following proper procedures and using proper applications. You too can reclaim 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.