While reclaiming vat ensure proper procedures are followed

If you have already paid vat on the goods or services again and want 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 which may have already been paid earlier so as to lower your costs as well as get respite from the problem of double taxation over your services or goods.

While you won’t be permitted to deduct the VAT amount of taxes directly from your next vat return, you will still be allowed to state that amount in a separate vat refund scheme. This scheme is available in the UK governed by certain terms and conditions. Most eu countries that follow vat will often have such procedures where vat amounts that have previously been paid can be reclaimed. If you’re a vat registered trader in the United Kingdom that does not have vat registration in the country of origin you’ll be able to claim any vat paid in that country provided you meet some other vat rules.

You can also claim vat paid in another eu country if you have not got relief through any other vat scheme. You will need to make use of a standard vat reclaiming form from the HM revenue and customs or hmrc vat website that looks after the customs, excise and vat department in the United Kingdom. However, since the reclaiming rules might differ in other countries, you’ll need the services of a specialist vat agent well-versed in uk vat and eu vat rules to ensure that you extract vat refunds in the relevant country. Your agent can act in your stead once you provide them with a power of attorney or a letter or authority to do so.

You can go in for a vat reclaim no later than 9 months in a year or so after you have paid the vat amount. You will first need to register your organization name and your agent?s name too in the event you intend on reclaiming vat using your agent. You should use the hm vat refunds service that is a part of the vat online services offered by the hmrc vat website so as to reduce time and energy. As soon as you submit the necessary online vat form you’ll be issued a web based reference number that will indicate that your request is 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 even though the concerned eu country will usually offer you a vat refund within 4 months, if all your documents are in proper order. In case any further details are required from that eu country then you can expect your vat reclaim to get settled after around 8 months of the original application.

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