Make sure to fulfill all conditions while claiming vat back

If you are a vat registered dealer or manufacturer in the United Kingdom or other EU country then you definately must ensure to satisfy all conditions while claiming vat back. Your claim will help offset any expenses directly related to your business or lessen costs on products imported from another country where you have already paid VAT.

VAT or value added tax is really a system of collecting taxes that has been implemented in many countries around the world including the EU. It assists in avoiding double taxation on products and if you are checkvatnumber a vat registered trader in the EU having a official vat number you’ll be able to surely reclaim any VAT which has already been paid while importing goods imported into your own country. However, you need to fulfill all terms and conditions 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’re not conversant with vat rules imposed in your own country then you should hire a vat consultant or tax consultant that is amply trained with the latest amendments in vat tax, vat rates, and also knows the correct vat refund procedures that must be followed while trying to get a vat refund. There are several factors that may qualify you for a vat reclaim. In case you have imported services or goods from another EU country where vat has already been paid then you can reclaim that vat amount provided you do not own a house or business in that country, are not vat registered in that country, and don’t supply to that country. However, you need 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 can reclaim vat on import vat if there has been vat paid in another country by using vat online services to register yourself first. If you are in the UK then once you register with hmrc vat online services you will then be in a position to post your request for your vat reclaim either directly or through your vat agent. You need to send all related documents as proof for claiming vat back and you’ll also need 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 after the end of any twelve months within which you will have to file for a vat claim in UK even though time limit will vary in other European countries. You will also have to be careful while completing your vat claim as most EU countries do a lot more than frown on incorrect or fraudulent claims. You may be penalized for any wrong claim or might 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 where you might have originally paid the vat amount. However, it is very important study each vat rule in great detail and understand its implications before claiming vat back directly or through your agent.