While reclaiming vat ensure proper procedures are followed

When you have already paid vat on your services or goods again 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 for getting back vat that might already have been paid earlier so as to lower your costs as well as get relief from the issue of double taxation over your goods or services.

While you will not be allowed to deduct the VAT tax amount straight from your next vat return, you will still be permitted to state that amount in a separate vat refund scheme. This scheme is available in the UK subject to certain terms and conditions. Most eu countries that follow vat usually have such procedures where vat amounts which have previously been paid can be reclaimed. If you are a vat registered trader in the United Kingdom that does not have vat registration in the nation of origin then you can 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 some other vat scheme. You will need to use 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 reclaiming rules might differ in other countries, you might need the expertise of an expert vat agent well-versed in uk vat and eu vat rules to ensure that you extract vat refunds from the relevant country. Your agent can act on your behalf as soon as you provide them with a power of attorney or a letter or authority to do so.

You can go for a vat reclaim no after 9 months in a calendar year after you have paid the vat amount. You may first have to register your business name and your agent?s name too in case 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 in order to save on time and effort. Once you submit the necessary online vat form you will be issued a web based reference number that will indicate that the request is received by the vat refund department.

While you will not need to send any paper documents, certain eu countries might request a scanned vat invoice to generally be attached to your vat refund request. Once you have sent your reclaiming request hmrc will send you a confirmation about the same within 15 days while the concerned eu country will usually provide you with a vat refund within 4 months, if all of your documents are typically in proper order. In case any further information is required from that eu country you’ll be able to 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 such as the UK offer vat refunds that may be claimed by following proper procedures and using proper applications. You too can reclaim vat paid in any other eu country that follows vat by reclaiming vat back from that eu country by using the vat refund scheme.