In case you run a trading business in the UK or any other EU country and have imported services or goods which 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 any vat reclaim.
Although tourists and certain other people can claim VAT or value added tax once they go back to their own country simply by 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 https://vatvalidation.com reimbursement. In the event you too have imported goods or services originating from a member EU country into the UK and also have already paid vat in the country then in order to avoid double taxation and lower your costs, you ought to surely apply for a vat refund. Although you might not be able 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 provided 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 then 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 ensure that you retain all original documents of vat paid within the original country before you can 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 original vat amount in order to qualify for a vat refund. However, this time around period varies in various countries. You might also need to climb over language barriers between various EU countries while submitting your tax documents. For example, Poland stipulates that you just attach the faktura vat or tax invoice that is written in Polish language before it’s sent for a reclaim. In such a case, a local vat agent will be in a very stronger position to comprehend the precise laws of each country.
After you have submitted all relevant documents to assert vat back, then you ought to receive the vat refund within the designated time frame specified by the exact country. In the UK the time period is usually around 4 months when your claim is processed and approved without any need for additional proof. You may receive your vat refund in a EU country that you want or perhaps britain 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 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 in which you have to pay vat again, you’ll be able to reclaim the extra vat paid on them. A vat agent that’s well versed 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 reduce your costs to a great extent.