If you’re 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 may help offset any expenses proportional to your business or lessen costs on products imported from another country where you have previously paid VAT.

VAT or value added tax is a system of collecting taxes that has been implemented in several countries around the world including the EU. It helps to avoid double taxation on products and if you’re a vat registered trader within the EU having a official vat number then you can surely claim back any VAT that has already been http://checkvatnumber.com paid while importing goods imported to your own country. However, you have to fulfill all conditions and terms imposed by the customs and excise customs vat department in your own country before you can reclaim vat successfully in the country of origin.

If you are not conversant with vat rules imposed throughout your home country you then should hire a vat consultant or tax consultant that’s well versed with all the latest amendments in vat tax, vat rates, and in addition knows the correct vat refund procedures to 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 been paid you’ll be able to reclaim that vat amount provided you do not own a house or business in that country, are not vat registered in the country, and do not supply to this 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’ll be able to reclaim vat on import vat if there has been vat paid overseas by utilizing vat online services to register yourself first. If you’re in the UK then once you register with hmrc vat online services then you will 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 following end of the calendar year within that you will have to apply for a vat claim in UK although the time period will vary in other Countries in Europe. You will also have to be careful while completing your vat claim since most EU countries do a lot more than frown on incorrect or fraudulent claims. You may be penalized for any wrong claim or may 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 and also the country where you might have originally paid the vat amount. However, it is important to study each vat rule in great detail and understand its implications before claiming vat back directly or through your agent.