If you are a vat registered trader in the UK or even in some other member EU country which has embraced vat you will want to conduct a vat check of the supplier before finalizing your transaction, especially if you intend to import services or goods to your country. It is really quite simple to conduct a vat number check on the internet before you spend your hard-earned money.
VAT or value added tax is a system of taxing products or services that’s followed in several countries around the world including most eu countries. If you are a trader in the United Kingdom that may be importing services or goods from other eu countries where vat has already been paid in the nation of origin you’ll be able to vatcheck apply for a vat refund. This may permit you to reclaim vat paid earlier so as to avoid double-taxation. However, it is necessary that you purchase your goods from a vat registered trader or exporter overseas so that the chain of vat continues as soon as the goods or services are imported to the UK.
However, there just might be a possibility that an unregistered vat trader might try to dupe you of your savings by charging you vat whilst offering you a fake or expired vat number on the vat invoice. In such a case, you may not have the ability to reclaim any vat on that transaction, which in turn will raise your costs and deny you your rightful refund. It is thus vitally important to conduct a vat check that typically takes a short time whenever you get on the official European Commission or EUROPA website that allows you to conduct a vat registration check and validate if your supplier has indeed given you an authentic vat number.
All you need to do is log on to the EUROPA website ec.europa.eu directly or visit the hmrc vat department website and follow the link provided at the site. All you have to do is to choose the eu country of your supplier, enter the vat number of your proposed supplier, choose your country code, and type in your own vat number. You may now need to click on verify, upon which the verification software will inform you if your vat number is valid.
Whenever possible, you need to print the validation screen as evidence of having conducted the check at a particular date and time. In the event the registration number isn’t valid you’ll be able to inform your supplier since there may be many reasons for this kind of response, including an authentic mistake in supplying 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 plan to purchase goods or services from vat registered traders in a foreign country which adheres to the system of vat. The actual checking process hardly takes more than a few seconds and conducting a vat check will definitely save your business a lot of money and pain in case the supplied vat number ends up being incorrect.