If you have already paid vat on the goods or services more than once and would like to get the original amount back then while reclaiming vat ensure proper procedures are followed. You may use the vat refund scheme for getting back vat which may have already been paid earlier so as to reduce your costs as well as get relief from the issue of double taxation over your goods or services.
Although you will not be allowed to deduct the http://vatcontrol.com/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 United Kingdom subject to certain conditions. Most eu countries that follow vat usually have such procedures where vat amounts that have already been paid may be reclaimed. If you are a vat registered trader in the UK that doesn’t have vat registration in the country of origin then you can claim any vat paid in the country provided you meet a few other vat rules.
You can also claim vat paid in another eu country if you haven’t 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. However, since reclaiming rules might differ in other countries, you’ll need the services 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 in your stead once you let them have a power of attorney or a letter or authority to do so.
It is possible to go in for a vat reclaim no after 9 months within a year or so after you’ve 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 using 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 energy. As soon as you submit the necessary online vat form you’ll be issued an online reference number that will indicate that the request is received by the vat refund department.
While you will not need to send any paper documents, certain eu countries might request a scanned vat invoice to be attached to your vat refund request. Once you’ve sent your reclaiming request hmrc will send you a confirmation regarding the same within 15 days while the concerned eu country will usually offer you 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 your original application.
In order to avoid 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 ultizing 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 by using the vat refund scheme.