If you have already paid vat on your services or goods again and want to get 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 so as to lower your costs and even get respite from the problem of double taxation over your goods or services.
While you will not be permitted to deduct the vatcontrol.com/vat tax amount straight from the next vat return, you still be permitted to claim that amount in a separate vat refund scheme. This scheme is available in the United Kingdom governed by certain conditions. Most eu countries that follow vat usually have such procedures where vat amounts that have previously been paid may be reclaimed. If you’re a vat registered trader in the United Kingdom that does not have vat registration in the nation 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 some 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 UK. On the other hand, since reclaiming rules might differ in other countries, you might need the services 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 in your stead as soon as you provide them with a power of attorney or a letter or authority to accomplish this.
You can go for a vat reclaim no later than 9 months in a year or so after you have paid the vat amount. You may first have to register your organization name and your agent?s name too in the event you plan on reclaiming vat through 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 reduce time and effort. Once you submit the required online vat form you will be issued a web based reference number that may 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 ask for 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 about the same within 15 days even though the concerned eu country will usually offer you a vat refund within 4 months, if all of your documents are typically in proper order. In case further information is required from that eu country then you can expect your vat reclaim to be 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 ultizing proper applications. You also 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.