If you are a vat registered trader in the UK or perhaps 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 intend to import services or goods to your country. It is really quite simple to conduct a vat number check over the internet before you part with your hard-earned money.
VAT or value added tax is really a system of taxing products or services that's followed in several countries across the globe including most eu countries. If you are a trader in the UK that may be importing goods or services from other eu countries where vat was already paid in the country of origin you'll be able to apply for a vat refund. This may allow you to reclaim vat paid earlier in order to avoid double-taxation. However, it is necessary that you purchase your goods originating from a vat registered trader or exporter in another country so that the chain of vat continues when the goods or services are imported to the UK.
However, there just might be a chance that an unregistered vat trader might attempt to dupe you of your savings by charging you vat even while offering you a fake or expired vat number on the vat invoice. In such a case, you might not vatcheck be able to reclaim any vat on that transaction, which in turn will raise your costs and deny you your rightful refund. It is actually thus vitally important to conduct a vat check that typically takes only a few minutes whenever you get on the official European Commission or EUROPA website that permits you to conduct a vat registration check and validate if the 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 website. 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 type in 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 proof of having conducted the check at a particular date and time. In the event the registration number isn't valid you'll be able to tell your supplier since there may be many reasons for such a response, including an authentic mistake in supplying you with the vat number to willful wrongdoing on your supplier?s part. You should remember that ultimately it is your business which will suffer if you fail to conduct a vat number check.
Performing a vat registration number check is extremely important if you are planning to purchase services or goods from vat registered traders in another country which 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 lots of money and pain should the supplied vat number ends up being incorrect.