In case you run a trading business in the united kingdom or any other EU country and have imported goods or services that has already paid vat in the country of origin you'll be able to claim vat back after vat registration. However, you should study many different rules necessary for vat refund before you stake your claim for a vat reclaim.
Although tourists and certain other people can claim VAT or vat once they return back in order to their country by simply showing the original vat invoice displaying the vat rate and vat amount, businesses need to furnish a lot more details before they can be eligible for a reimbursement. If you too have imported goods or services originating from a vat control member EU country to the UK and have already paid vat in the country then to prevent double taxation and reduce your costs, you ought to surely have a vat refund. Although you might not be in a position to directly deduct the vat amount as part of your next vat return, you can surely claim vat back from the country of origin provided you follow their vat rules.
If you're not vat registered then you can use the vat online services offered by HM customs and excise customs vat or visit the hmrc vat website to register your organization 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 services and goods 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 up the vat form for vat reclaim before 9 months within the next twelve months 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 various 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 just attach the faktura vat or tax invoice that is coded in Polish language before it's sent for a reclaim. In such a case, a local vat agent would be in a better position to understand the precise laws of each country.
Once you have submitted all relevant documents to claim vat back, then you should receive the vat refund within the designated time frame specified by the specific country. In great britan the time period is usually around 4 months if your claim is processed and approved without any requirement for additional proof. You can receive your vat refund in any EU country that you desire 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 most likely be looked with suspicion and handled strictly by the concerned vat authorities of that country.
In case your business requires goods or services that have already paid vat in the country of origin before reaching the shores of your country where you have to pay vat again, then you can reclaim the extra vat paid on them. A vat agent that's amply trained in international and national vat rules should be able to guide you towards claiming vat back without difficulty. If you have just started trading internationally then you can claim vat back after vat registration and reduce your costs to some large degree.
