While reclaiming vat ensure proper procedures are followed

If you have already paid vat on the services or goods more than once and want 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 have already been paid earlier in order to lower your costs and even get respite from the problem of double taxation over your services or goods.

Although you will not be allowed to deduct the VAT amount of taxes straight from the next vat return, you still be permitted to claim that amount in a separate vat refund scheme. This scheme is available in the United Kingdom subject to 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 doesn’t 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 may also claim vat paid in another eu country if you have not got relief through any other vat scheme. You will have to make use of 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. On the other hand, since the 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 in the relevant country. Your agent can act on your behalf once you let them have a power of attorney or even a letter or authority to do so.

It is possible to go for a vat reclaim no later than 9 months within a calendar year after you have paid the vat amount. You will first have to register your organization name and your agent?s name too in case you plan on reclaiming vat using your agent. You need to 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 effort. As soon as you submit the required online vat form you’ll be issued an online reference number that will indicate that the request has been received by the vat refund department.

Although 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 send a confirmation regarding the same within 15 days even though the concerned eu country will normally 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 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 such as the UK offer vat refunds that can 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 by using the vat refund scheme.