While reclaiming vat ensure proper procedures are followed

If you have already paid vat on the services or goods more than once and would like to get the original amount back then while reclaiming vat ensure proper procedures are followed. You may use the vat refund scheme for getting back vat which may have already been paid earlier in order to reduce your costs and even get respite from the issue of double taxation over your services or goods.

Although you will not be permitted to deduct the VAT amount of taxes straight from your next vat return, you will still be permitted to state that amount in a separate vat refund scheme. This scheme is available in the UK subject to certain conditions. Most eu countries that follow vat will often have such procedures where vat amounts which have already been paid may be reclaimed. If you’re a vat registered trader in the UK that doesn’t have vat registration in the nation of origin you’ll be able to claim any vat paid in the country provided you meet a few other vat rules.

You can also claim vat paid in another eu country if you haven’t got relief through any other vat scheme. You will have 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 United Kingdom. On the other hand, since reclaiming rules might differ abroad, you’ll need the services of an expert vat agent well-versed in uk vat and eu vat rules to successfully extract vat refunds in the relevant country. Your agent can act in your stead as soon as you let them have a power of attorney or even a letter or authority to accomplish this.

It is possible to go in for a vat reclaim no later than 9 months within a year or so after you have paid the vat amount. You may first need to register your organization name and also your agent?s name too in case you plan on reclaiming vat using your agent. You need to 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 energy. As soon as you submit the necessary online vat form you will be issued an online reference number that will indicate that your request has been received by the vat refund department.

Although 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 have sent your reclaiming request hmrc will be sending a confirmation about the same within 15 days even though the concerned eu country will usually offer you a vat refund within 4 months, if all of your documents are in proper order. In case further information is required from that eu country you’ll be able to expect your vat reclaim to be settled after around 8 months of your original application.

In order to avoid the situation of double taxation, most eu countries that have adopted vat including the UK offer vat refunds that can be claimed by following proper procedures and using proper applications. You too can claim back vat paid in almost any other eu country that follows vat by reclaiming vat back from that eu country by using the vat refund scheme.