While reclaiming vat ensure proper procedures are followed

When 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 that might already have been paid earlier so as to reduce your costs as well as get respite from the issue of double taxation over your services or goods.

While you will not be permitted to deduct the VAT tax amount straight from your next vat return, you will still be allowed to state that amount in the separate vat refund scheme. This scheme is available in the United Kingdom governed by certain conditions. Most eu countries that follow vat will often 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 does not 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 any other vat scheme. You will need to use 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 United Kingdom. However, 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 once you provide them with a power of attorney or even a letter or authority to do so.

You can go in for a vat reclaim no later than 9 months in a calendar year after you have paid the vat amount. You may first need to register your organization name and your agent?s name too in the event you plan on reclaiming vat using your agent. You should use the hm vat refunds service that’s a part of the vat online services offered by the hmrc vat website so as to save on time and energy. As soon as you submit the required online vat form you will be issued an online 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 be attached to your vat refund request. Once you’ve sent your reclaiming request hmrc will send you a confirmation about the same within 15 days while the concerned eu country will normally offer you 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 be settled after around 8 months of the original application.

In order to avoid the situation of double taxation, most eu countries that have adopted vat including the UK offer vat refunds that may be claimed by following proper procedures and ultizing proper applications. You also 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.