Ensure that you fulfill all conditions while claiming vat back

If you’re a vat registered dealer or manufacturer in the UK or any other EU country then you definately must ensure to fulfill all conditions while claiming vat back. Your claim may help offset any expenses proportional to your business or lessen costs on products imported from another country where you have already paid VAT.

VAT or value added tax is really a system of collecting taxes which has been implemented in many countries around the world including the EU. It assists to avoid double taxation on products and if you are a vat registered trader within the EU having a official vat number then you can surely checkvatnumber claim back any VAT which has already been paid while importing goods imported into your own country. However, you have to fulfill all conditions and terms imposed by the customs and excise customs vat department in your own country before you can reclaim vat successfully in the country of origin.

If you’re not conversant with vat rules imposed throughout your home country you then should hire a vat consultant or tax consultant that’s well versed with all the latest amendments in vat tax, vat rates, and also knows the correct vat refund procedures that must be followed while trying to get a vat refund. There are several factors that may qualify you for a vat reclaim. In case you have imported services or goods from another EU country where vat has been paid you’ll be able to reclaim that vat amount provided you don’t own a home or business in the country, are not vat registered in the country, and do not supply to this country. However, you need to fully comprehend each rule in great detail before claiming vat back as there are other sub-sections in each rule that should be fulfilled too.

You’ll be able to reclaim vat on import vat if there’s been vat paid in another country by using vat online services to sign up yourself first. If you’re in the United Kingdom then once you register with hmrc vat online services then you will be able to post your request for your vat reclaim either directly or using your vat agent. You need to send all related documents as proof for claiming vat back and you’ll also have to be conversant with vat rules in the country or countries where the actual vat amounts have originally been paid.

There is also a time limit of nine months after the end of the twelve months within which you would need to apply for a vat claim in UK although the time period will vary in other Countries in Europe. You’ll need to be careful while filling out your vat claim as most EU countries do a lot more than frown on incorrect or fraudulent claims. You could be penalized for a wrong claim or might also be denied any refunds.

A vat claim will help lower your vat burden provided you meet all the required criteria applicable throughout your home country as well as the country where you might have originally paid the vat amount. However, it is important to study each vat rule in great detail and understand its implications before claiming vat back directly or through your agent.