If you’re a vat registered trader in the UK or even in some other member EU country which has embraced vat then you need to conduct a vat check of your supplier before finalizing your transaction, particularly if you plan to import goods or services to your country. It is really fairly simple to conduct a vat number check on the internet before you decide to spend your hard-earned money.
VAT or value added tax is a system of taxing goods and services that is followed in a number of countries across the globe including most eu countries. If you’re a trader in the UK that is importing services or goods from other eu countries where vat was already paid in the nation of origin then you can apply for a vat refund. This will permit you to reclaim vat paid earlier so as to avoid double-taxation. However, it is necessary that you simply purchase your goods from a vat registered trader or exporter overseas so the chain of vat continues as soon as the goods or services are imported into the UK.
However, there may be a chance that an unregistered vat trader might try to dupe you of your savings by charging you vat even while offering you a fake or expired vat number on the vat invoice. When this happens, you might not vatcheck have the ability to reclaim any vat on that transaction, which inturn will raise the costs and deny you your rightful refund. It is thus vitally important to conduct a vat check that typically takes a short time when you get on the official European Commission or EUROPA website that permits you to conduct a vat registration check and validate if the supplier has indeed provided you with a genuine vat number.
All that you should do is log on to the EUROPA website ec.europa.eu directly or go to the hmrc vat department website and follow the link provided at the site. All you have to do is always to pick the eu country of your supplier, type in the vat number of your proposed supplier, choose your country code, and type in your own personal vat number. You may now need to click on verify, upon which the verification software will inform you if the vat number is valid.
If possible, you should try to print the validation screen as proof of having conducted the check at a particular date and time. If the registration number isn’t valid then you can inform your supplier since there may be a lot of reasons for such a response, ranging from a genuine mistake in providing you with the vat number to willful wrongdoing on your supplier?s part. You should remember that ultimately it is your business which will suffer if you fail to conduct a vat number check.
Performing a vat registration number check is extremely important if you are planning to buy goods or services from vat registered traders in another country that also adheres to the system of vat. The exact checking process hardly takes more than a few seconds and performing a vat check will certainly save your business a lot of money and pain should the supplied vat number ends up being incorrect.