If you have already paid vat on the goods or services again and would like to receive the original amount back then while reclaiming vat ensure proper procedures are followed. You may use the vat refund scheme for getting back vat which may have already been paid earlier in order to lower your costs as well as get relief from the problem of double taxation over your goods or services.
While you won’t be permitted to deduct the VAT tax amount directly from your next vat return, you will still be allowed to state that amount in the separate vat refund scheme. This scheme is available in the UK subject to certain terms and conditions. Most eu countries that follow vat usually have such procedures where vat amounts which have already been paid may be reclaimed. If you’re a vat registered trader in the United Kingdom that does not have vat registration in the country of origin then you can claim any vat paid in that country provided you meet some other vat rules.
You may also claim vat paid in another eu country if you haven’t got relief through any other vat scheme. You will have to use 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. However, since reclaiming rules might differ abroad, you might need vat check the expertise of an expert vat agent well-versed in uk vat and eu vat rules to successfully extract vat refunds from the relevant country. Your agent can act on your behalf as soon as you let them have a power of attorney or even a letter or authority to do so.
It is possible to go for a vat reclaim no later than 9 months within a year or so after you’ve paid the vat amount. You may first have to register your business name and also your agent?s name too in the event you intend on reclaiming vat using your agent. You should use the hm vat refunds service that’s a part of the vat online services provided by the hmrc vat website in order to save on time and effort. Once you submit the necessary online vat form you will be issued a web based reference number that will indicate that your request is received by the vat refund department.
While you will not need to send any paper documents, certain eu countries might request a scanned vat invoice to generally be attached to your vat refund request. Once you’ve sent your reclaiming request hmrc will be sending a confirmation regarding the same within 15 days while the concerned eu country will usually offer you a vat refund within 4 months, if all your documents are in proper order. In case further information is required from that eu country you’ll be able to expect your vat reclaim to be settled after around 8 months of your original application.
To prevent the problem of double taxation, most eu countries which have adopted vat including the UK offer vat refunds that can be claimed by following proper procedures and ultizing proper applications. You too can reclaim vat paid in any other eu country that follows vat by reclaiming vat back from that eu country by using the vat refund scheme.