If you have already paid vat on your goods or services again and want to receive the original amount back then while reclaiming vat ensure proper procedures are followed. You may use the vat refund scheme to get back vat which may have already been paid earlier in order to lower your costs and even get relief from the issue of double taxation over your services or goods.
Although you will not be allowed to deduct the vatcontrol.com/vat amount of taxes straight from the next vat return, you still be permitted to state that amount in a separate vat refund scheme. This scheme is available in the UK governed by certain conditions. Most eu countries that follow vat usually have such procedures where vat amounts which have already been paid can be reclaimed. If you are 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 a few other vat rules.
You may also claim vat paid in another eu country if you haven’t got relief through some other vat scheme. You will have to use a standard vat reclaiming form through 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 reclaiming rules might differ in other countries, 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 in your stead 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 year or so 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 need to use the hm vat refunds service that is a part of the vat online services offered by the hmrc vat website in order to reduce time and energy. As soon as you submit the necessary online vat form you’ll be issued an online 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 request a scanned vat invoice to be attached with your vat refund request. Once you have sent your reclaiming request hmrc will send a confirmation about the same within 15 days even though the concerned eu country will normally offer you a vat refund within 4 months, if all your documents are typically in proper order. In the event any further information is required from that eu country you’ll be able to expect your vat reclaim to get settled after around 8 months of your original application.
In order to avoid the problem of double taxation, most eu countries which have adopted vat such as the UK offer vat refunds that can be claimed by following proper procedures and using 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.