If you have already paid vat on the services or goods again and want 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 that might have already been paid earlier in order to reduce your costs as well as get respite from the problem of double taxation over your goods or services.
Although you will not be allowed to deduct the http://vatcontrol.com/vat tax amount straight from the next vat return, you still be allowed to claim that amount in the separate vat refund scheme. This scheme is available in the UK subject to certain conditions. Most eu countries that follow vat will often have such procedures where vat amounts that have previously been paid can be reclaimed. If you’re a vat registered trader in the UK that does not have vat registration in the nation of origin you’ll be able to claim any vat paid in that country provided you meet a few other vat rules.
You can also claim vat paid in another eu country if you have not got relief through some other vat scheme. You will need to use a standard vat reclaiming form through the HM revenue and customs or hmrc vat website that looks after the customs, excise and vat department in the United Kingdom. On the other hand, since the reclaiming rules might differ abroad, you might need the expertise of a specialist vat agent well-versed in uk vat and eu vat rules to successfully extract vat refunds from the relevant country. Your agent can act in your stead once you provide them with a power of attorney or even a letter or authority to do so.
It is possible to go in for a vat reclaim no later than 9 months in a year or so after you have paid the vat amount. You may first need to register your business name and your agent?s name too in case you plan on reclaiming vat using your agent. You should use the hm vat refunds service that’s a part of the vat online services provided by the hmrc vat website so as to save on time and energy. As soon as you submit the required online vat form you’ll be issued a web based reference number that may indicate that the request is received by the vat refund department.
While you will not need to send any paper documents, certain eu countries might ask for a scanned vat invoice to be attached with your vat refund request. Once you’ve sent your reclaiming request hmrc will send a confirmation regarding the same within 15 days while the concerned eu country will usually offer you a vat refund within 4 months, if all your documents are in proper order. In the event any further details are required from that eu country you’ll be able to expect your vat reclaim to get settled after around 8 months of your original application.
In order to avoid the situation of double taxation, most eu countries which have adopted vat such as the UK offer vat refunds that may be claimed by following proper procedures and using proper applications. You also can reclaim vat paid in almost any other eu country that follows vat by reclaiming vat back from that eu country by using the vat refund scheme.