It is possible to claim vat back after vat registration

If you operate a trading business in the united kingdom or other EU country and have imported goods or services which has already paid vat in the country of origin you’ll be able to claim vat back after vat registration. However, you should study many different rules necessary for vat refund before you decide to stake your claim for any vat reclaim vat number.

Although tourists and certain other people can claim VAT or vat once they return back to their own country by simply showing the original vat invoice displaying the vat rate and vat amount, businesses need to furnish a lot more details before they can qualify for reimbursement. In the event you too have imported services or goods from a member EU country to the UK and also have already paid vat in that country then in order to avoid double taxation and reduce your costs, you should surely apply for a vat refund. Although you might not be able to directly deduct the vat amount in your next vat return, you may surely claim vat back from your country of origin provided you follow their vat rules.

If you are not vat registered then you can utilize the vat online services offered by HM customs and excise customs vat or go to the hmrc vat web site to register your organization first. If you are not internet savvy or have trouble in comprehending vat rules it would be better to appoint a vat agent that provides all vat services including obtaining refunds and handling vat returns. You can now authorize your vat agent to submit your vat claims on your behalf. You may also appoint different vat agents in several countries and register them separately, particularly if you import services and goods from different countries.

You need to make sure that you retain all original documents of vat paid within the original country before you can claim vat back. You need to fill the vat form for vat reclaim before 9 months within the next twelve months after you have paid the original vat amount in order to be eligible for a a vat refund. However, this time period varies in various countries. You need to to climb over language barriers between various EU countries while submitting your tax documents. For example, Poland stipulates that you attach the faktura vat or tax invoice which is written in Polish language before it’s sent for a reclaim. In such a case, the local vat agent will be in a very better position to understand the precise laws for each country.

Once you have submitted all relevant documents to claim vat back, then you ought to receive the vat refund within the designated time period specified by the specific country. In the UK the time period is generally around 4 months when your claim is processed and approved without the need for additional proof. You can receive your vat refund in a EU country that you want or perhaps britain provided you have a valid banking account within the desired country. However, you should remember to submit proper documentation since any rejected vat claim will usually be looked with suspicion and handled strictly by the concerned vat authorities of the country vat check.

If your business requires services or goods that have already paid vat in the country of origin before reaching the shores of one’s country where you need to pay vat again, then you can reclaim the excess vat paid on them. A vat agent that is well versed in international and national vat rules will be able to help you towards claiming vat back with ease. For those who have just started trading internationally then you can claim vat back after vat registration and lower your costs to some great extent.