If you're a vat registered dealer or manufacturer in the United Kingdom or any other EU country then you definately must ensure to fulfill all conditions while claiming vat back Http://www.vatcontrol.com. 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 to avoid double taxation on products and if you are a vat registered trader within the EU with an official vat number then you can surely reclaim any VAT which has already been paid while importing goods imported into 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 from the country of origin.
If you're not conversant with vat rules imposed in your own country you then should hire a vat consultant or tax consultant that's well versed with the latest amendments in vat tax, vat rates, and also knows the correct vat refund procedures to be followed while trying to get a vat refund. There are numerous factors that can qualify you for a vat reclaim. In case you have imported goods or services from another EU country where vat has been paid you'll be able to reclaim that vat amount provided you don't own a house or business in that country, aren't vat registered in that country, and do not supply to that country. However, you need to fully comprehend each rule in great detail before claiming vat back as 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 overseas by using vat online services to sign up yourself first. If you are in the United Kingdom then once you register with hmrc vat online services you will then be in a position 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'll also need to be conversant with vat rules in the nation or countries where the actual vat amounts have originally been paid.
There's also a time frame of nine months after the end of the twelve months within that you will have to apply for a vat claim in UK although the time limit will change in other European countries. You will also have to be careful while completing your vat claim since most EU countries do much more than frown on incorrect or fraudulent claims. You may be penalized for a wrong claim or may also be denied any refunds.
A vat claim will help reduce your vat burden provided you meet all the required criteria applicable in your own country as well as the country in which you might have originally paid the vat amount. However, it is important to study each vat rule in great detail and understand its implications before claiming vat back directly or through your agent.