If you run a trading business in the UK or any other EU country and also have imported goods or services that has already paid vat in the nation of origin you’ll be able to claim vat back after vat registration. However, it is important to study many different rules required for vat refund before you stake your claim for a vat reclaim check vat number.
Although tourists and certain other individuals can claim VAT or value added tax once they return back in order to their own country simply by showing the initial vat invoice displaying the vat rate and vat amount, businesses have to furnish many more details before they can qualify for reimbursement. If you too have imported goods or services from a member EU country into the UK and have already paid vat in that country then in order to avoid double taxation and reduce your costs, you should surely have a vat refund. Although you might 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’re not vat registered then you can utilize the vat online services offered by HM customs and excise customs vat or go to the hmrc vat website to register your business first. If you’re not internet savvy or have trouble in comprehending vat rules it would be better to appoint a vat agent that provides all vat services including obtaining refunds and handling vat returns. You can now authorize your vat agent to submit your vat claims on your behalf. You may also appoint different vat agents in different countries and register them separately, especially if you import goods and services from different countries.
You need to make sure that you retain all original documents of vat paid in the original country before you can claim vat back. You should fill up the vat form for vat reclaim before 9 months in the next twelve months once you have paid the original vat amount so that you can qualify for a vat refund. However, this time around period varies in different countries. You need to to climb over language barriers between various EU countries while submitting your tax documents. For example, 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 of each country.
After you have submitted all relevant documents to claim vat back, then you should get the vat refund in the designated time frame specified by the specific country. In the UK the time period is usually around 4 months if your claim is processed and approved without the need for additional proof. You may receive your vat refund in any 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 usually be looked with suspicion and handled strictly by the concerned vat authorities of that country vat number.
In case your business requires services or goods which have already paid vat in the country of origin before reaching the shores of your country in which you have to pay vat again, then you can reclaim the excess vat paid on them. A vat agent that’s well versed in international and national vat rules will be able to guide you towards claiming vat back with ease. If you have just started trading internationally you’ll be able to claim vat back after vat registration and lower your costs to a great extent.