While reclaiming vat ensure proper procedures are followed

by admin on 2018/12/17

If you have already paid vat on the goods or services again and would like to get the original amount back then while reclaiming vat ensure proper procedures are followed. You may use the vat refund scheme for getting back vat that might have already been paid earlier in order to lower your costs as well as get respite from the problem of double taxation over your goods or services.

While you will not be allowed to deduct the VAT tax amount straight from your next vat return, you still be allowed to state that amount in the separate vat refund scheme. This scheme is available in the United Kingdom subject to certain conditions. Most eu countries that follow vat will often have such procedures where vat amounts which have already been paid can 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 the country provided you meet some other vat rules.

You can also claim vat paid in another eu country if you have not got relief through any other vat scheme. You will need 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 the 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 as soon as you provide them with a power of attorney or even a letter or authority to accomplish this.

You can go for a vat reclaim no after 9 months within a year or so after you’ve paid the vat amount. You may first need to register your organization 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 is a part of the vat online services offered by the hmrc vat website in order to save on time and effort. As soon as you submit the necessary online vat form you will be issued an online reference number that will indicate that the request has been received by the vat refund department.

Although 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 have sent your reclaiming request hmrc will be sending you a confirmation regarding the same within 15 days even though the concerned eu country will usually provide you with a vat refund within 4 months, if all your documents are typically in proper order. In case 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 the 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 also can reclaim vat paid in any other eu country that follows vat by reclaiming vat back from that eu country when you use the vat refund scheme.

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