While reclaiming vat ensure proper procedures are followed

If you have already paid vat on the services or goods more than once and would like to receive the original amount back then while reclaiming vat ensure proper procedures are followed. You may use the vat refund scheme for getting back vat which may already have 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 straight from your next vat return, you still be permitted 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 usually have such procedures where vat amounts that have already 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 you’ll be able to claim any vat paid in the country provided you meet a few 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 abroad, you’ll need the services 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 in your stead once you provide them with a power of attorney or even a letter or authority to do so.

It is possible to go in for a vat reclaim no later than 9 months within a year or so after you’ve paid the vat amount. You may first need to register your business name and your agent?s name too in case you plan on reclaiming vat through 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 reduce time and effort. As soon as you submit the necessary online vat form you’ll be issued a web based reference number that may 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 generally be attached with your vat refund request. Once you have sent your reclaiming request hmrc will be sending 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 your documents are in proper order. In case any further details are 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 problem 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 also 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.