While reclaiming vat ensure proper procedures are followed

When you have already paid vat on your services or goods more than once and would like 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 in order to lower your costs and even get relief from the issue of double taxation over your services or goods.

While you will not be permitted to deduct the VAT amount of taxes directly from the next vat return, you still be allowed to state that amount in a separate vat refund scheme. This scheme is available in the United Kingdom subject to certain conditions. Most eu countries that follow vat will often have such procedures where vat amounts which have already been paid can be reclaimed. If you are a vat registered trader in the United Kingdom that doesn't 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 any other vat scheme. You will need to make use of 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 United Kingdom. However, 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 ensure that you 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 do so.

It is possible to go in for a vat reclaim no after 9 months within a year or so after you have paid the vat amount. You may first need to register your organization name and also your agent?s name too in case you plan on reclaiming vat using your agent. You should use the hm vat refunds service that is a part of the vat online services offered by the hmrc vat website in order to save on time and effort. As soon as you submit the necessary online vat form you will be issued an online reference number that will 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 request a scanned vat invoice to be attached with your vat refund request. Once you have sent your reclaiming request hmrc will send a confirmation regarding the same within 15 days while the concerned eu country will normally provide you with a vat refund within 4 months, if all your documents are typically in proper order. In case any further details are required from that eu country then you can expect your vat reclaim to be settled after around 8 months of the original application.

In order to avoid the problem of double taxation, most eu countries that have adopted vat such as the UK offer vat refunds that can be claimed by using proper procedures and using proper applications. You also can claim back vat paid in any other eu country that follows vat by reclaiming vat back from that eu country when you use the vat refund scheme.