If you run a trading business in the UK or other EU country and have imported services or goods which has already paid vat in the country of origin then you can claim vat back after vat registration. However, it is important to study all different rules required for vat refund before you decide to stake your claim for a vat reclaim search vat number.
Although tourists and certain other people can claim VAT or value added tax when they return back to their country simply by showing the original vat invoice displaying the vat rate and vat amount, businesses have to furnish a lot more details before they are able to be eligible for a reimbursement. In the event you too have imported services or goods originating from a member EU country to the UK and also have already paid vat in that country then to prevent double taxation and lower your costs, you ought to surely apply for a vat refund. Even though you might not be able to directly deduct the vat amount as part of your next vat return, you may surely claim vat back from the country of origin provided you follow their vat rules.
If you’re not vat registered then you can certainly use the vat online services provided by HM customs and excise customs vat or go to the hmrc vat website to register your business first. If you’re not internet savvy or have trouble in comprehending vat rules it could well be better to appoint a vat agent that delivers all vat services including applying for refunds and handling vat returns. Now you can authorize your vat agent to submit your vat claims in your stead. You may also appoint different vat agents in different countries and register them separately, especially if you import goods and services from different countries.
You should make sure that you retain all original documents of vat paid within the original country before you claim vat back. You should fill the vat form for vat reclaim before 9 months in the next twelve months after you have paid the original vat amount in order to qualify for a vat refund. However, this time period varies in different countries. You might also need to climb over language barriers between various EU countries while submitting your tax documents. For instance, Poland stipulates that you attach the faktura vat or tax invoice that is written in Polish language before it’s sent for any reclaim. When this happens, the local vat agent would be in a stronger position to understand the specific laws for each country.
Once you have submitted all relevant documents to assert vat back, then you should receive the vat refund in the designated time period specified by the specific country. In great britan the timeframe is generally around 4 months if your claim is processed and approved without any need for additional proof. You may receive your vat refund in a EU country that you want or perhaps the UK provided you’ve got a valid banking account within the desired country. However, you should remember to submit proper documentation since any rejected vat claim will most likely be looked with suspicion and handled strictly by the concerned vat authorities of that country vat control.
If your business requires services or goods that have already paid vat in the country of origin before reaching the shores of one’s country where you need to pay vat again, then you can claim back the excess vat paid on them. A vat agent that’s well versed in international and national vat rules will be able to help you towards claiming vat back without difficulty. If you have just started trading internationally then you can claim vat back after vat registration and lower your costs to some large degree.