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 get the original amount back then while reclaiming vat ensure proper procedures are followed. You can 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 respite from the issue of double taxation over your goods or services.

Although you won’t be allowed to deduct the VAT amount of taxes straight from your next vat return, you will still be permitted to claim 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 usually have such procedures where vat amounts which have previously been paid can be reclaimed. If you are a vat registered trader in the United Kingdom that does not have vat registration in the country of origin then you can 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 any 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 reclaiming rules might differ in other countries, you’ll need vat check 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 let them have a power of attorney or even a letter or authority to do so.

It is possible to go in for a vat reclaim no later than 9 months in a calendar year after you have paid the vat amount. You may first need to register your organization name and your agent?s name too in the event you plan on reclaiming vat through your agent. You need to use the hm vat refunds service that is a part of the vat online services offered by the hmrc vat website so as to save on time and energy. Once you submit the necessary online vat form you’ll be issued an online reference number that may indicate that your 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 have sent your reclaiming request hmrc will be sending you a confirmation about the same within 15 days while the concerned eu country will usually provide you with a vat refund within 4 months, if all your documents are in proper order. In case any further information is required from that eu country then you can expect your vat reclaim to get 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 can be claimed by following proper procedures and ultizing proper applications. You too can claim back vat paid in any other eu country that follows vat by reclaiming vat back from that eu country by using the vat refund scheme.