If you run a trading business in the UK or any other EU country and have imported goods or services which has already paid vat in the country of origin you’ll be able to claim vat back after vat registration. However, you should study all different rules necessary for vat refund before you stake your claim for any vat reclaim check vat number.
Although tourists and certain other individuals can claim VAT or value added tax once they return back in order to their own country simply by showing the initial vat invoice displaying the vat rate and vat amount, businesses have to furnish a lot more details before they can qualify for a refund. In the event you too have imported goods or services from a member EU country to the UK and have already paid vat in that country then in order to avoid double taxation and reduce your costs, you ought to surely have a vat refund. Although you might not be able to directly deduct the vat amount as part of your next vat return, you can surely claim vat back from your country of origin provided you follow their vat rules.
If you are not vat registered then you can certainly use the vat online services offered by HM customs and excise customs vat or visit the hmrc vat website to register your business first. If you’re not internet savvy or have trouble in comprehending vat rules then it would be better to appoint a vat agent that provides 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 need to ensure that you retain all original documents of vat paid in the original country before you can claim vat back. You should fill the vat form for vat reclaim before 9 months in the next calendar year once you have paid the original vat amount in order to qualify for a vat refund. However, this time around 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 which is coded in Polish language before it’s sent for a reclaim. In such a case, a local vat agent would be in a very better position to comprehend the precise laws of each country.
Once you have submitted all relevant documents to claim vat back, then you ought to receive the vat refund within the designated time period specified by the specific country. In great britan the timeframe is usually around 4 months if your claim is processed and approved without the requirement for additional proof. You can receive your vat refund in any EU country that you want or even in britain provided you have a valid bank account in 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 number.
If your business requires services or goods that have already paid vat in the country of origin before reaching the shores of your country where you have to pay vat again, you’ll be able to reclaim the excess vat paid on them. A vat agent that’s amply trained in international and national vat rules should be able to help you towards claiming vat back without difficulty. If you have just started trading internationally you’ll be able to claim vat back after vat registration and lower your costs to a large degree.