Ensure that you fulfill all conditions while claiming vat back

If you’re a vat registered dealer or manufacturer in the UK or any other EU country then you definately should make sure to satisfy all conditions while claiming vat back vatcontrol-com. Your claim may help offset any expenses directly related to the business or lessen costs on products imported from another country in which you have already paid VAT.

VAT or value added tax is a system of collecting taxes which has been implemented in several countries all over the world including the EU. It assists to avoid double taxation on products and if you’re a vat registered trader within the EU with an official vat number you’ll be able to surely claim back any VAT which has recently been paid while importing goods imported to your own country. However, you have to fulfill all conditions and terms imposed by the customs and excise customs vat department in your own country before you reclaim vat successfully from the country of origin.

If you are not conversant with vat rules imposed throughout your home country then you should hire a vat consultant or tax consultant that’s well versed with the latest amendments in vat tax, vat rates, and also knows the appropriate vat refund procedures to be followed while trying to get a vat refund. There are numerous factors that may qualify you for a vat reclaim. In case you have imported goods or services from another EU country where vat has been paid you’ll be able to reclaim that vat amount provided you do not own a home or business in the country, are not vat registered in the country, and do not supply to this country. However, it is advisable to fully comprehend each rule in great detail before claiming vat back as there are other sub-sections in each rule that should be fulfilled too.

You’ll be able to reclaim vat on import vat if there’s been vat paid overseas by using vat online services to sign up yourself first. If you’re in the United Kingdom then when you register with hmrc vat online services then you will be able to post your request for your vat reclaim either directly or using your vat agent. You need to send all related documents as proof for claiming vat back and you will also have to be conversant with vat rules in the country or countries where the actual vat amounts have originally been paid.

There is also a time limit of nine months following end of any calendar year within which you will have to apply for a vat claim in UK although the time period will change in other European countries. You’ll have to be careful while completing your vat claim since most EU countries do much more than frown on incorrect or fraudulent claims. You could be penalized for any wrong claim or may also be denied any refunds.

A vat claim will help reduce your vat burden provided you meet all the criteria applicable in your own country as well as the country in which you might have originally paid the vat amount. However, it is important to study each vat rule in great detail and understand its implications before claiming vat back directly or through your agent.