If you're a vat registered trader in the United Kingdom or even in any other member EU country which has embraced vat you will want to conduct a vat check of your supplier before finalizing your transaction, particularly if you plan to import services or goods to your country. It is actually fairly simple to conduct a vat number check http://vatcontrol.com/vat on the internet before you decide to spend your hard-earned money.
VAT or value added tax is really a system of taxing products or services that is followed in several countries across the globe including most eu countries. If you are a trader in the UK that is importing services or goods from other eu countries where vat has already been paid in the nation of origin then you can make application for a vat refund. This may permit you to reclaim vat paid earlier so as to avoid double-taxation. However, it is important that you buy your goods from a vat registered trader or exporter overseas so that the chain of vat continues when the services or goods are imported into the UK.
However, there may be a chance that an unregistered vat trader might attempt to dupe you of your savings by charging you vat whilst providing you with a fake or expired vat number on the vat invoice. When this happens, you might not be able to reclaim any vat on that transaction, which in turn will raise your costs and deny you your rightful refund. It is thus vitally important to conduct a vat check that usually takes only a few minutes when you get on the official European Commission or EUROPA website that allows you to conduct a vat registration check and validate if your supplier has indeed provided you with an authentic vat number.
All that you should do is log on to the EUROPA website ec.europa.eu directly or visit the hmrc vat department website and follow the link provided at the site. All you have to do is to pick the eu country of the supplier, type in the vat number of your proposed supplier, choose your own country code, and enter your own vat number. You may now have to click on verify, upon which the verification software will inform you if the vat number is valid.
Whenever possible, you should try to print the validation screen as evidence of having conducted the check at the particular date and time. If the registration number isn't valid then you can tell your supplier since there could be a lot of reasons for such a response, ranging from an authentic mistake in providing you with the vat number to willful wrongdoing on your supplier?s part. You should remember that ultimately it's your business which will suffer if you don't conduct a vat number check.
Conducting a vat registration number check is extremely important if you plan to purchase goods or services from vat registered traders in another country that also follow the system of vat. The exact checking process hardly takes more than a few seconds and conducting a vat check will definitely save your valuable business a lot of money and pain in case the supplied vat number turns out to be incorrect.