If you are a vat registered dealer or manufacturer in the United Kingdom or other EU country then you definately should make sure to satisfy all conditions while claiming vat back. Your claim will help offset any expenses directly related to the business or help reduce costs on products imported from another country where you have already paid VAT.
VAT or value added tax is a system of collecting taxes that has been implemented in several countries around the world including the EU. It helps in avoiding double taxation on products and if you're a vat registered trader in the EU having a official vat number then you can vat check surely claim back any VAT which has already been paid while importing goods imported to your own country. However, you have to fulfill all terms and conditions imposed by the customs and excise customs vat department throughout your home country before you reclaim vat successfully in the country of origin.
If you are not conversant with vat rules imposed in your own country then you should hire a vat consultant or tax consultant that's amply trained with all the latest amendments in vat tax, vat rates, and in addition knows the correct vat refund procedures that must be followed while trying to get a vat refund. There are numerous factors that may qualify you to get a vat reclaim. In case you have imported goods or services from another EU country where vat has been paid you'll be able to reclaim that vat amount provided you do not own a house or business in the country, are not vat registered in that country, and do not supply to this country. However, you need to fully comprehend each rule in great detail before claiming vat back as there are other sub-sections in each rule that should be fulfilled too.
You'll be able to reclaim vat on import vat if there's been vat paid in another country by utilizing vat online services to register yourself first. If you are in the United Kingdom then once you register with hmrc vat online services you will then be able to post your request for your vat reclaim either directly or through your vat agent. You will need to send all related documents as proof for claiming vat back and you'll also need to be conversant with vat rules in the country or countries where the vat amounts have originally been paid.
There is also a time frame of nine months following end of the twelve months within which you would need to file for a vat claim in UK even though time period will change in other European countries. You'll need to be careful while filling out your vat claim as most EU countries do a lot more than frown on incorrect or fraudulent claims. You could be penalized for any wrong claim or might also be denied any refunds.
A vat claim will help lower your vat burden provided you meet all the criteria applicable in your own country and also the country where you may have originally paid the vat amount. However, it is important to study each vat rule in great detail and understand its implications before claiming vat back directly or through your agent.
