While reclaiming vat ensure proper procedures are followed

When you have already paid vat on your goods or services more than once and would like to receive the original amount back then while reclaiming vat ensure proper procedures are followed. You can use the vat refund scheme to get back vat which may have already been paid earlier in order to reduce your costs and even get relief from the issue of double taxation over your services or goods.

While you will not be allowed to deduct the VAT tax amount directly from the next vat return, you still be allowed to claim that amount in the separate vat refund scheme. This scheme is available in the UK governed by certain terms and conditions. Most eu countries that follow vat usually have such procedures where vat amounts which have previously been paid may be reclaimed. If you’re 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 haven’t got relief through any other vat scheme. You will have 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 in other countries, you might need the expertise of a specialist vat agent well-versed in uk vat and eu vat rules to successfully extract vat refunds in the relevant country. Your agent can act on your behalf once you let them have a power of attorney or a letter or authority to accomplish this.

It is possible to go in for a vat reclaim no after 9 months within a calendar year after you’ve paid the vat amount. You may first have to register your organization name and your agent?s name too in case you intend 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 in order to reduce time and energy. As soon as you submit the required online vat form you’ll be issued a web based reference number that may 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 with your vat refund request. Once you have sent your reclaiming request hmrc will send a confirmation about the same within 15 days while the concerned eu country will normally provide you with 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.

To prevent the problem of double taxation, most eu countries which have adopted vat including the UK offer vat refunds that can be claimed by following proper procedures and ultizing proper applications. You also can reclaim 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.