You can claim vat back after vat registration
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 nation of origin you’ll be able to claim vat back after vat registration. However, it is important to study many different rules required for vat refund before you stake your claim for any vat reclaim vat verification.
Although tourists and certain other people can claim VAT or value added tax when they return back in order to their country by simply showing the initial vat invoice displaying the vat rate and vat amount, businesses need to furnish a lot more details before they can be eligible for a reimbursement. In the event you too have imported services or goods from a member EU country to the UK and have already paid vat in the country then to prevent double taxation and reduce your costs, you should surely apply for a vat refund. Although you might not be in a position to directly deduct the vat amount in your next vat return, you can surely claim vat back from the country of origin provided you follow their vat rules.
If you are not vat registered then you can utilize 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 could well be better to appoint a vat agent that delivers all vat services including applying for refunds and handling vat returns. You can now 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, especially if you import services and goods from different countries.
You should make sure that you retain all original documents of vat paid within the original country before you can claim vat back. You should fill up the vat form for vat reclaim before 9 months in the next calendar year after you have paid the original vat amount so that you can 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 instance, Poland stipulates that you just attach the faktura vat or tax invoice which is written in Polish language before it is sent for a reclaim. In such a case, the local vat agent will be in a stronger position to comprehend the specific laws for 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 great britan the timeframe is generally around 4 months if your own claim is processed and approved without the need for additional proof. You can receive your vat refund in any EU country that you want or even in 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 most likely be looked with suspicion and handled strictly by the concerned vat authorities of that country check vat number.
If your business requires goods or services which have already paid vat in the country of origin before reaching the shores of your 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 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 some great extent.