If you operate a trading business in the united kingdom or any other EU country and have imported goods or services that has already paid vat in the nation of origin then you can claim vat back after vat registration. However, you should study many different rules necessary for vat refund before you stake your claim for any vat reclaim.
Although tourists and certain other people can claim VAT or vat when they go back to their own country by simply showing the initial vat invoice displaying the vat rate and vat amount, businesses need to furnish many more details before they are able to be eligible for a reimbursement. In the event you too have imported goods or services originating from a www.vatcontrol.com member EU country into the UK and have already paid vat in that country then to prevent double taxation and reduce your costs, you should surely apply for a vat refund. Although you might not be able to directly deduct the vat amount as part of your next vat return, you may surely claim vat back from the country of origin provided you follow their vat rules.
If you are not vat registered then you can use the vat online services provided by HM customs and excise customs vat or visit the hmrc vat web site to register your business first. If you’re not internet savvy or have trouble in comprehending vat rules then it would be better to appoint a vat agent that delivers all vat services including applying for refunds and handling vat returns. You can now authorize your vat agent to submit your vat claims in your stead. You can also appoint different vat agents in different countries and register them separately, particularly if you import services and goods from different countries.
You should ensure that you retain all original documents of vat paid in the original country before you can claim vat back. You should fill the vat form for vat reclaim before 9 months within the next calendar year once you have paid the original vat amount in order to be eligible for a a vat refund. However, this time period varies in different countries. You might also need to climb over language barriers between various EU countries while submitting your tax documents. For instance, Poland stipulates that you just attach the faktura vat or tax invoice that is written in Polish language before it’s sent for a reclaim. When this happens, a local vat agent will be in a better position to comprehend the specific laws for each country.
After you have submitted all relevant documents to assert vat back, then you should receive the vat refund in the designated time frame specified by the specific country. In great britan the time period is generally around 4 months when your own claim is processed and approved without the need for additional proof. You can receive your vat refund in any EU country that you want or perhaps the UK provided you’ve got a valid bank account within the desired country. However, you should remember to submit proper documentation since any rejected vat claim will usually be looked with suspicion and handled strictly by the concerned vat authorities of the country.
If your business requires services or goods that have already paid vat in the nation of origin before reaching the shores of one’s country where you have to pay vat again, then you can reclaim the excess vat paid on them. A vat agent that is well versed in international and national vat rules should be able to help you towards claiming vat back with ease. For those who have just started trading internationally then you can claim vat back after vat registration and lower your costs to a large degree.