If you’re a vat registered trader in the UK or perhaps any other member EU country which has embraced vat you will want to conduct a vat check of your supplier before finalizing your transaction, particularly if you plan to import goods or services into your country. It is actually fairly simple to conduct a vat number check on the internet before you decide to spend your hard-earned money.
VAT or value added tax is really a system of taxing products or services that’s followed in several countries across the globe including most eu countries. If you’re a trader in the United Kingdom that may be importing goods or services from other eu countries where vat was already paid in the country of origin then you can make application for a vat refund. This will allow you to reclaim vat paid earlier so as to avoid double-taxation. However, it is necessary that you simply purchase your goods from a vat registered trader or exporter in another country so that the chain of vat continues as soon as the goods or services are imported into the UK.
However, there just might be a chance that an unregistered vat trader might attempt to dupe you of your savings by charging you vat whilst offering you a fake or expired vat number on the vat invoice. When this happens, you may not vat check have the ability to reclaim any vat on that transaction, which inturn will raise your costs and deny you your rightful refund. It is actually thus very important to conduct a vat check that usually takes only a few minutes whenever you log on to the official European Commission or EUROPA website that permits you to conduct a vat registration check and validate if your supplier has indeed provided you with a genuine vat number.
All that you should do is log on to the EUROPA website ec.europa.eu directly or go to the hmrc vat department website and follow the link provided at the website. All you have to do is to choose the eu country of your supplier, type in the vat number of your proposed supplier, choose your country code, and enter your own vat number. You will now need to click on verify, upon which the verification software will inform you if your vat number is valid.
Whenever possible, you need to print the validation screen as evidence of having conducted the check at the particular date and time. In the event the registration number is not valid you’ll be able to inform your supplier since there could be many reasons for such a response, including a genuine mistake in providing you with the vat number to willful wrongdoing on the supplier?s part. You sould never forget that ultimately it’s your business which will suffer if you fail to conduct a vat number check.
Conducting a vat registration number check is extremely important if you are planning to purchase services or goods from vat registered traders in a foreign country that also follow the system of vat. The actual checking process hardly takes more than a few seconds and performing a vat check will definitely save your valuable business lots of money and pain in case the supplied vat number ends up being incorrect.