While reclaiming vat ensure proper procedures are followed

When you have already paid vat on your goods or services again and would like to receive the original amount back then while reclaiming vat ensure proper procedures are followed. You may use the vat refund scheme to get back vat that might have already been paid earlier in order to lower your costs and even get relief from the problem of double taxation over your goods or services.

While you won’t be permitted to deduct the VAT amount of taxes directly from the next vat return, you still be allowed to claim 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 which have already 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 a few other vat rules.

You can also claim vat paid in another eu country if you have not got relief through any other vat scheme. You will need to make use of 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 UK. However, since the reclaiming rules might differ in other countries, you’ll need the expertise 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 accomplish this.

You can go for a vat reclaim no after 9 months within a year or so after you’ve paid the vat amount. You will first have to register your organization name and also your agent?s name too in case you plan on reclaiming vat through your agent. You should use the hm vat refunds service that’s a part of the vat online services provided by the hmrc vat website in order to reduce time and effort. As soon as you submit the required online vat form you will be issued a web based reference number that will indicate that the request has been 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 generally be attached to your vat refund request. Once you’ve sent your reclaiming request hmrc will be sending a confirmation regarding the same within 15 days while the concerned eu country will normally offer you a vat refund within 4 months, if all of your documents are typically in proper order. In the event any further details are required from that eu country you’ll be able to 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 which have adopted vat including the UK offer vat refunds that can be claimed by using proper procedures and using proper applications. You too can reclaim vat paid in any other eu country that follows vat by reclaiming vat back from that eu country when you use the vat refund scheme.