While reclaiming vat ensure proper procedures are followed

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

Although you won't be allowed to deduct the VAT tax amount directly from the next vat return, you will still be permitted to claim that amount in the separate vat refund scheme. This scheme is available in the UK subject to certain conditions. Most eu countries that follow vat usually have such procedures where vat amounts which have previously been paid may be reclaimed. If you are a vat registered trader in the United Kingdom that does not have vat registration in the nation of origin then you can claim any vat paid in that country provided you meet a few other vat rules.

You may also claim vat paid in another eu country if you haven't got relief through some other vat scheme. You will need 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 UK. However, since reclaiming rules might differ in other countries, you might need the services of a specialist 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 in your stead once you provide them with a power of attorney or a letter or authority to do so.

It is possible to go in for a vat reclaim no after 9 months in a year or so after you have paid the vat amount. You will first need to register your business name and also your agent?s name too in the event 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 will 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 ask for a scanned vat invoice to generally be attached to your vat refund request. Once you've sent your reclaiming request hmrc will send you a confirmation regarding the same within 15 days while 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 the event further details are 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.

To prevent the problem 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 using proper applications. You too can claim back vat paid in almost any other eu country that follows vat by reclaiming vat back from that eu country when you use the vat refund scheme.