In case you operate a trading business in the UK or any other EU country and also have imported services or goods which has already paid vat in the nation 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.
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 have to furnish a lot more details before they are able to qualify for a refund. If you too have imported services or goods www.vatregistrationnumber.com from a member EU country into the UK and also have already paid vat in the country then to prevent double taxation and reduce your costs, you ought to surely apply for a vat refund. Even though you may not be in a position to directly deduct the vat amount in your next vat return, you may surely claim vat back from your country of origin provided you follow their vat rules.
If you are not vat registered then you can 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 are not internet savvy or have trouble in comprehending vat rules it could well be better to appoint a vat agent that provides all vat services including obtaining refunds and handling vat returns. Now you can authorize your vat agent to submit your vat claims in your stead. You can also appoint different vat agents in different countries and register them separately, particularly 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 need to fill the vat form for vat reclaim before 9 months within the next calendar year once you have paid the initial vat amount so that you can qualify for a vat refund. However, this time period varies in various 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 would be in a stronger position to understand the specific laws of each country.
After you have submitted all relevant documents to claim vat back, then you ought to get the vat refund within the designated time frame specified by the exact country. In great britan the timeframe is usually around 4 months if your claim is processed and approved without the need for additional proof. You can receive your vat refund in any EU country that you desire or perhaps britain provided you’ve got 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.
In case your business requires services or goods which have already paid vat in the nation of origin before reaching the shores of your country where you have to pay vat again, you’ll be able to claim back the excess vat paid on them. A vat agent that is 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.