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, it is important to study all different rules necessary for vat refund before you decide to stake your claim for a vat reclaim search vat number.
Although tourists and certain other people can claim VAT or vat once they return back to their own country simply by showing the original vat invoice displaying the vat rate and vat amount, businesses need to furnish many more details before they are able to qualify for a refund. 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 the country then in order to avoid double taxation and reduce your costs, you should 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 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 utilize the vat online services offered by HM customs and excise customs vat or visit the hmrc vat web site to register your business first. If you are 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 obtaining 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 should ensure that you retain all original documents of vat paid in 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 in order to qualify for 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 that is coded in Polish language before it is sent for any reclaim. In such a case, a local vat agent will be in a very better position to comprehend the specific laws of each country.
After you have submitted all relevant documents to claim vat back, then you should get the vat refund within the designated time frame specified by the exact country. In great britan the time period is generally around 4 months if your claim is processed and approved without any need for additional proof. You can receive your vat refund in any EU country that you want or even in the UK 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 usually be looked with suspicion and handled strictly by the concerned vat authorities of the country vat check.
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 have to pay vat again, you’ll be able to reclaim 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 with ease. If you have just started trading internationally you’ll be able to claim vat back after vat registration and reduce your costs to a great extent.