In case you operate a trading business in the UK or any other EU country and have imported goods or services that 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 many different rules necessary for vat refund before you decide to stake your claim for a vat reclaim.
Although tourists and certain other people can claim VAT or value added tax once they go back in order 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. In the event you too have imported services or goods 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 have a vat refund. Even though you may 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 your country of origin provided you follow their vat rules.
If you are not vat registered then you can certainly utilize the vat online services offered by HM customs and excise customs vat or go to the hmrc vat website to register your business 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 delivers all vat services including obtaining refunds and handling vat returns. You can now authorize your vat agent to submit your vat claims on your behalf. You may also appoint different vat agents in several 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 within the original country before you claim vat back. You should fill up the vat form for vat reclaim before 9 months in the next twelve months once you have paid the original vat amount in order to be eligible for a a vat refund. However, this time around period varies in different countries. You need to to climb over language barriers between various EU countries while submitting your tax documents. For example, Poland stipulates that you attach the faktura vat or tax invoice that is coded in Polish language before it’s sent for a reclaim. When this happens, a local vat agent will be in a better position to comprehend the precise 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 period specified by the specific country. In great britan the time period is generally around 4 months if your own claim is processed and approved without the need for additional proof find here. You can receive your vat refund in a EU country that you desire or perhaps britain provided you have a valid bank account within 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 that country.
If your business requires goods or services which have already paid vat in the country of origin before reaching the shores of your 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 guide you towards claiming vat back with ease. For those who have just started trading internationally then you can claim vat back after vat registration and lower your costs to some large degree.
