In case you operate a trading business in the united kingdom or other EU country and also have imported services or goods that has already paid vat in the country of origin you’ll be able to claim vat back after vat registration. However, you should study many different rules required for vat refund before you stake your claim for a vat reclaim.
Although tourists and certain other individuals can claim VAT or value added tax when they return back in order 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 qualify for http://vatvalidation.com reimbursement. In the event you too have imported services or goods from a member EU country into the UK and also have already paid vat in the country then to prevent double taxation and reduce your costs, you ought to surely have a vat refund. Although you may not be able to directly deduct the vat amount as part of your next vat return, you can surely claim vat back from your country of origin provided you follow their vat rules.
If you are not vat registered then you can utilize the vat online services provided by HM customs and excise customs vat or visit the hmrc vat web site to register your organization first. If you’re not internet savvy or have trouble in comprehending vat rules then it could well be better to appoint a vat agent that provides 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 goods and services from different countries.
You need to ensure that you retain all original documents of vat paid within the original country before you can claim vat back. You need to fill up the vat form for vat reclaim before 9 months within the next twelve months once you have paid the original vat amount in order to be eligible for a a vat refund. However, this time around period varies in various countries. You might also need to climb over language barriers between various EU countries while submitting your tax documents. For example, Poland stipulates that you attach the faktura vat or tax invoice that is coded in Polish language before it’s sent for a reclaim. In such a case, the local vat agent would be in a very better position to comprehend the specific laws of each country.
Once you have submitted all relevant documents to claim vat back, then you ought to get the vat refund within the designated time frame specified by the exact country. In great britan the timeframe is generally around 4 months if your claim is processed and approved without any requirement for additional proof. You can receive your vat refund in a EU country that you desire or perhaps the UK provided you have a valid banking account in the desired country. However, you should remember to submit proper documentation since any rejected vat claim will most likely be looked with suspicion and handled strictly by the concerned vat authorities of that country.
If your business requires services or goods which have already paid vat in the nation of origin before reaching the shores of your country in which you have to pay vat again, then you can claim back the extra vat paid on them. A vat agent that is amply trained in international and national vat rules should be able to guide you towards claiming vat back with ease. If you have just started trading internationally then you can claim vat back after vat registration and reduce your costs to some great extent.