In case you run a trading business in the united kingdom or other EU country and have imported services or goods that has already paid vat in the country of origin then you can claim vat back after vat registration. However, you should study many different rules required for vat refund before you decide to stake your claim for any vat reclaim.
Although tourists and certain other individuals can claim VAT or vat when they go back to their own country by simply showing the initial vat invoice displaying the vat rate and vat amount, businesses have to furnish many more details before they are able to be eligible for a www.vatvalidation.com reimbursement. In the event you too have imported goods or services from a member EU country to the UK and also have already paid vat in that country then in order to avoid double taxation and reduce your costs, you should surely have a vat refund. Even though you may not be in a position to directly deduct the vat amount in your next vat return, you can surely claim vat back from the country of origin provided you follow their vat rules.
If you are not vat registered then you can certainly utilize the vat online services offered by HM customs and excise customs vat or go to the hmrc vat web site to register your business first. If you’re not internet savvy or have trouble in comprehending vat rules then 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 on your behalf. You can also appoint different vat agents in different countries and register them separately, especially if you import goods and services from different countries.
You need to ensure that you retain all original documents of vat paid in the original country before you claim vat back. You should fill up the vat form for vat reclaim before 9 months in the next calendar year once you have paid the initial vat amount so that you can be eligible for a a vat refund. However, this time period varies in different countries. You need to 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 which is coded in Polish language before it’s sent for any reclaim. In such a case, a local vat agent will be in a stronger position to comprehend the precise laws for each country.
Once you have submitted all relevant documents to claim vat back, then you should receive the vat refund in the designated time period specified by the specific country. In the UK the timeframe is usually around 4 months if your claim is processed and approved without any need for additional proof. You can receive your vat refund in a EU country that you want or even in the UK provided you have a valid banking account within the desired country. However, you should remember to submit proper documentation since any rejected vat claim will usually be looked with suspicion and handled strictly by the concerned vat authorities of the country.
If your business requires goods or services that have already paid vat in the country of origin before reaching the shores of one’s country in which you need to pay vat again, then you can reclaim the excess vat paid on them. A vat agent that’s well versed in international and national vat rules should be able to guide you towards claiming vat back without difficulty. For those who have just started trading internationally you’ll be able to claim vat back after vat registration and reduce your costs to some great extent.