If you operate a trading business in the united kingdom or other EU country and also have imported goods or services which has already paid vat in the country of origin then you can claim vat back after vat registration vat check. However, it is important to study all different rules necessary for vat refund before you stake your claim for any vat reclaim.
Although tourists and certain other individuals can claim VAT or value added tax once they go back to their country by simply showing the original vat invoice displaying the vat rate and vat amount, businesses need to furnish many more details before they are able to be eligible for a a refund. If you too have imported goods or services from a member EU country into the UK and also have already paid vat in that country then in order to avoid double taxation and lower your costs, you should surely apply for a vat refund. Even though you may 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 provided by HM customs and excise customs vat or go to the hmrc vat web site to register your organization 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 several countries and register them separately, particularly if you import goods and services from different countries.
You need to ensure that you retain all original documents of vat paid within 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 after you have paid the initial vat amount in order to be eligible for a 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 a reclaim. When this happens, a local vat agent will be in a very better position to understand the specific laws of each country.
After you have submitted all relevant documents to claim vat back, then you should receive the vat refund in the designated time frame specified by the exact country. In the UK the timeframe is generally around 4 months if your own claim is processed and approved without the need for additional proof find out more. You may receive your vat refund in a EU country that you want or even in the UK provided you’ve got a valid banking 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 goods or services that have already paid vat in the country of origin before reaching the shores of one’s country where you need to pay vat again, then you can 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 with ease. If you have just started trading internationally then you can claim vat back after vat registration and lower your costs to a great extent.
