If you are a vat registered dealer or manufacturer in the United Kingdom or other EU country then you must ensure to fulfill all conditions while claiming vat back. Your claim may help offset any expenses proportional to your business or lessen costs on products imported from another country where you have previously paid VAT.
VAT or value added tax is a system of collecting taxes that has been implemented in many countries around the world including the European Union. It helps to avoid double taxation on products and if you are a vat registered trader within the EU with an official vat number then you can www.vatcheck.com/vat surely reclaim any VAT that has already been paid while importing goods imported into your own country. However, you have to fulfill all conditions and terms imposed by the customs and excise customs vat department in your own country before you reclaim vat successfully from the country of origin.
If you’re not conversant with vat rules imposed throughout your home country then you should hire a vat consultant or tax consultant that’s well versed with all the latest amendments in vat tax, vat rates, and in addition knows the correct vat refund procedures to be followed while applying for a vat refund. There are numerous factors that can qualify you to get a vat reclaim. If you have imported services or goods from another EU country where vat has already been paid then you can reclaim that vat amount provided you do not own a home or business in the country, aren’t vat registered in the country, and do not supply to that country. However, it is advisable to fully comprehend each rule in great detail before claiming vat back as there are other sub-sections in each rule that should be fulfilled too.
You’ll be able to reclaim vat on import vat if there’s been vat paid in another country by using vat online services to register yourself first. If you’re in the United Kingdom then when you register with hmrc vat online services then you will be in a position to post your request for your vat reclaim either directly or using your vat agent. You will need to send all related documents as proof for claiming vat back and you’ll also have to be conversant with vat rules in the country or countries in which the actual vat amounts have originally been paid.
There is also a time frame of nine months following end of any twelve months within which you would need to apply for a vat claim in UK although the time period will vary in other European countries. You will also need to be careful while filling out your vat claim as most EU countries do much more than frown on incorrect or fraudulent claims. You may be penalized for any wrong claim or may also be denied any refunds.
A vat claim can help lower your vat burden provided you meet all the criteria applicable throughout your home country as well as the country in which you may have originally paid the vat amount. However, it is important to study each vat rule in great detail and understand its implications before claiming vat back directly or through your agent.