If you're a vat registered dealer or manufacturer in the United Kingdom or other EU country then you must ensure to fulfill all conditions while claiming vat back. Your claim will help offset any expenses proportional to the business or help reduce costs on products imported from another country where you have previously paid VAT.
VAT or value added tax is a system of collecting taxes that has been implemented in several countries all over the world including the EU. It assists in avoiding double taxation on products and if you're http://checkvatnumber.com a vat registered trader in the EU with an official vat number then you can surely claim back any VAT that has already been paid while importing goods imported to your own country. However, you need to fulfill all terms and conditions imposed by the customs and excise customs vat department in your own country before you can reclaim vat successfully in the country of origin.
If you are not conversant with vat rules imposed throughout your home country you then should hire a vat consultant or tax consultant that's amply trained with all the latest amendments in vat tax, vat rates, and also knows the appropriate vat refund procedures that must be followed while applying for a vat refund. There are numerous factors that may qualify you to get a vat reclaim. In case you have imported goods or services from another EU country where vat has already been paid then you can reclaim that vat amount provided you don't own a home or business in the country, are not vat registered in the country, and don't supply to this country. However, you need to fully comprehend each rule in great detail before claiming vat back since there are other sub-sections in each rule that need to be fulfilled too.
You'll be able to reclaim vat on import vat if there's been vat paid in another country by using vat online services to sign up yourself first. If you're in the UK then once you register with hmrc vat online services you will then be able to post your request for your vat reclaim either directly or using your vat agent. You need to send all related documents as proof for claiming vat back and you will also have to be conversant with vat rules in the nation or countries where the actual vat amounts have originally been paid.
There is also a time limit of nine months after the end of any calendar year within which you will have to apply for a vat claim in UK even though time period will change in other European countries. You will also need to be careful while completing your vat claim since most EU countries do a lot more than frown on incorrect or fraudulent claims. You could be penalized for a wrong claim or may also be denied any refunds.
A vat claim can help lower your vat burden provided you meet all the criteria applicable in your own country and also the country where you might have originally paid the vat amount. However, it is very important study each vat rule in great detail and understand its implications before claiming vat back directly or through your agent.