While reclaiming vat ensure proper procedures are followed

When you have already paid vat on the goods or services 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 to get back vat that might already have been paid earlier so as to lower your costs and even get relief from the problem of double taxation over your goods or services.

While you will not be allowed to deduct the VAT amount of taxes directly from the next vat return, you still be allowed to state that amount in a separate vat refund scheme. This scheme is available in the United Kingdom subject to certain terms and conditions. Most eu countries that follow vat usually have such procedures where vat amounts that have previously been paid may be reclaimed. If you are a vat registered trader in the UK that doesn’t have vat registration in the nation of origin then you can claim any vat paid in the country provided you meet some other vat rules.

You may also claim vat paid in another eu country if you haven’t got relief through some 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 UK. On the other hand, since reclaiming rules might differ abroad, you might need the expertise of a specialist vat agent well-versed in uk vat and eu vat rules to successfully extract vat refunds from 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.

You can go for a vat reclaim no later than 9 months in a year or so after you’ve paid the vat amount. You may first have to register your organization name and also your agent?s name too in the event you plan on reclaiming vat through your agent. You need to use the hm vat refunds service that is a part of the vat online services provided by the hmrc vat website in order to save on time and effort. Once 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.

While you will not need to send any paper documents, certain eu countries might ask for a scanned vat invoice to be attached to your vat refund request. Once you have sent your reclaiming request hmrc will be sending you a confirmation about the same within 15 days while the concerned eu country will usually offer you a vat refund within 4 months, if all your documents are typically in proper order. In the event any 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 the original application.

To prevent the situation of double taxation, most eu countries which have adopted vat including the UK offer vat refunds that can be claimed by following proper procedures and ultizing 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 when you use the vat refund scheme.