When you have already paid vat on the goods or services again and want to receive the original amount back then while reclaiming vat ensure proper procedures are followed. You can use the vat refund scheme to get back vat that might have already been paid earlier in order to reduce your costs and even get relief from the problem of double taxation over your goods or services.
While you won’t be allowed to deduct the http://vatcontrol.com/vat tax amount straight from the next vat return, you will still be permitted to claim that amount in a separate vat refund scheme. This scheme is available in the UK governed by certain terms and conditions. Most eu countries that follow vat usually have such procedures where vat amounts which have previously been paid may be reclaimed. If you’re a vat registered trader in the United Kingdom that doesn’t have vat registration in the nation of origin you’ll be able to 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 have not got relief through any other vat scheme. You will need to make use of a standard vat reclaiming form from the HM revenue and customs or hmrc vat website that looks after the customs, excise and vat department in the United Kingdom. On the other hand, since the reclaiming rules might differ abroad, 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 on your behalf once you let them have a power of attorney or even a letter or authority to accomplish this.
You can go in for a vat reclaim no later than 9 months within a calendar year after you have paid the vat amount. You may first need to register your organization name and also your agent?s name too in case you plan on reclaiming vat using your agent. You should use the hm vat refunds service that is a part of the vat online services provided by the hmrc vat website so as to reduce time and effort. Once you submit the necessary online vat form you will 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 with your vat refund request. Once you have sent your reclaiming request hmrc will send you a confirmation about 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 then you can expect your vat reclaim to get settled after around 8 months of the original application.
In order to avoid the situation of double taxation, most eu countries that have adopted vat including the UK offer vat refunds that can be claimed by following proper procedures and using proper applications. You also can claim back vat paid in almost any other eu country that follows vat by reclaiming vat back from that eu country by using the vat refund scheme.