In case you operate a trading business in the united kingdom or any other EU country and also have imported services or goods which has already paid vat in the country of origin then you can claim vat back after vat registration. However, you should study many different rules required for vat refund before you decide to stake your claim for any vat reclaim.
Although tourists and certain other people can claim VAT or value added tax when they go back to their country simply by showing the initial vat invoice displaying the vat rate and vat amount, businesses need to furnish many more details before they can qualify for a refund. If you too have imported goods or services www.vatregistrationnumber.com from a member EU country into the UK and also have already paid vat in that country then in order to avoid double taxation and lower your costs, you should surely apply for a vat refund. Even though you might not be able to directly deduct the vat amount as part of your next vat return, you can surely claim vat back from the country of origin provided you follow their vat rules.
If you are not vat registered then you can use the vat online services provided by HM customs and excise customs vat or go to the hmrc vat website to register your business first. If you are not internet savvy or have trouble in comprehending vat rules then it could well be better to appoint a vat agent that provides all vat services including applying for refunds and handling vat returns. Now you can authorize your vat agent to submit your vat claims on your behalf. You may also appoint different vat agents in different countries and register them separately, especially if you import services and goods from different countries.
You should make sure that you retain all original documents of vat paid within the original country before you claim vat back. You need to fill the vat form for vat reclaim before 9 months in the next twelve months after you have paid the initial vat amount so that you can be eligible for a a vat refund. However, this time around period varies in various countries. You need to to climb over language barriers between various EU countries while submitting your tax documents. For instance, Poland stipulates that you attach the faktura vat or tax invoice which is written in Polish language before it’s sent for a reclaim. In such a case, a local vat agent will be in a better position to comprehend the precise laws of each country.
Once you have submitted all relevant documents to claim vat back, then you should get the vat refund in the designated time period specified by the exact country. In the UK the time period is usually around 4 months if your own claim is processed and approved without the requirement for additional proof. You can receive your vat refund in any EU country that you desire or perhaps the UK provided you’ve got a valid banking account in the desired country. However, remember that to submit proper documentation since any rejected vat claim will most likely be looked with suspicion and handled strictly by the concerned vat authorities of that country.
If your business requires goods or services that have already paid vat in the nation of origin before reaching the shores of one’s country where you need to pay vat again, you’ll be able to reclaim the excess vat paid on them. A vat agent that’s amply trained in international and national vat rules should be able to guide you towards claiming vat back without difficulty. For those who have just started trading internationally then you can claim vat back after vat registration and lower your costs to a great extent.