In case you run a trading business in the UK or other EU country and have imported goods or services which has already paid vat in the country of origin then you can claim vat back after vat registration. However,
you should study all different rules required 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 to their country simply by showing the original vat invoice displaying the vat rate and vat amount, businesses have to furnish many more details before they can qualify for a refund. In the event you too have imported services or goods originating from a member EU country into the UK and have already paid vat in that country then to prevent double taxation and lower your costs, you ought to surely have a vat refund. Although you might not be in a position to directly deduct the vat amount in your next vat return, you may surely claim vat back from the 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 visit the hmrc vat web site to register your business first. If you are not internet savvy or have trouble in comprehending vat rules 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 may also appoint different vat agents in different countries and register them separately, particularly if you import goods and services from different countries.
You should make sure that you retain all original documents of vat paid in the original country before you can claim vat back. You should fill the vat form for vat reclaim before 9 months in the next twelve months after you have paid the initial vat amount in order to be eligible for a 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 example, Poland stipulates that you attach the faktura vat or tax invoice that is written in Polish language before it’s sent for a reclaim. In such a case, the local vat agent will be in a stronger position to comprehend the specific laws of each country.
Once you have submitted all relevant documents to claim vat back, then you ought to get the vat refund within the designated time period specified by the exact country. In the UK the time period is usually around 4 months when your own claim is processed and approved without any requirement for additional proof. You can receive your vat refund in any EU country that you desire or perhaps britain provided you’ve got a valid banking account within the desired country. However, remember that 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 the country.
If your business requires services or goods which have already paid vat in the nation of origin before reaching the shores of one’s country where you have to pay vat again, you’ll be able to reclaim the extra vat paid on them. A vat agent that is well versed in international and national vat rules will be able to guide 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.