If you import goods into the UK from eu countries where vat has already been paid on the same or utilize vat-applicable services in those countries then you should apply for vat uk refund to claim previously paid vat. You can apply for vat refunds online and can certainly reduce your business costs with each successful refund.

Although vat has been established to avoid the problem of double taxation, it can occur in case you import goods into the UK after vat has already been charged in that country on the same. On the other hand, your employees might visit trade fairs, trade shows, attend meetings with clients, spend money on promotional events and utilize other services where vat might have been charged. In case you have to pay uk vat again on those goods or do not get vat reclaim for services then this would amount to double-taxation and raise your business costs to a large extent.

In the UK, Her Majesty’s Revenue and Customs or hmrc vat department that enforces vat allows you to reclaim VAT paid in another country by submitting the applicable online vat form. However, you need to be an existing registered vat trader before you can use these services. You will need to register with hmrc before you can start using all the vat online services on offer. You can register your business and even authorise your vat agent to represent you while filing vat returns and for vat refunds since the process of receiving vat refunds back into your bank account could last between 4 to 8 months.

You will need to apply for a vat uk refund to hmrc vat by filling up the online form and also need to attach soft copies of all relevant documents such as vat invoices and vat receipts. In addition, the vat department of the country of origin where vat was originally paid might also ask for clarifications, which in turn could lengthen the refund process to a maximum of around 8 months. In case your application is approved without any problem then you could receive your refund within 4 months. It would thus make more sense to allow your vat agent to handle the vat refund process by paying a fixed percentage of successful refunds.

Once your vat reclaim process is successfully processed then you will receive the vat amount originally paid back into your bank account. However, that amount would be in the currency of the country of origin and you might need to convert that amount into GBP before utilizing it. Since standard rates of vat range from 15% to 25% in all eu countries that have adopted vat, it will surely boost up your cash flow and profit margins if you manage to recover the original vat amount back into your own account. Paying your vat agent only after you receive your vat refund amount will also lower your financial burden.

While vat offers you a chance to save on taxes by passing the vat amount to the final customer, it can raise your costs in case you have already paid on goods or services in another eu country. If you want regular cash inflows into your bank account and want to compete with your competition then you should certainly apply for vat uk refund to claim previously paid vat.

Filing returns at regular intervals is one of the functions that should be completed by you once you get your vat certificate and turn into a vat registered trader, and filing vat returns online is secure and convenient. You can now file returns from the comfort of your office, store or home or even authorize your vat agent to do the same on your behalf.

If you are a trader in the UK then once your vat registration process is approved by HM Revenue and Customs or hmrc vat department then you will receive your vat certificate and vat number, which in turn will empower you to issue vat invoices and collect vat against those invoices. You will also need to pay vat on all vat invoices issued by your suppliers. At the end of the specified time-frame that could be a month, quarter, or year, as specified by hmrc based on the vat accounting scheme chosen by you, vat returns will have to be filed by you or your vat agent.

These returns will provide a summary of the total vat collected against your VAT invoices, and paid against your purchases invoices within the specified period. If you have collected more vat than you have paid then you will have to pay the difference to hmrc or if it is the other way around then you can claim the amount back into your account from hmrc. However, in a bid to improve services and reduce paperwork, hmrc offers you a chance to file vat returns online to all its vat registered traders. If you have filed for vat registration after April 1, 2009 or if your taxable turnover excluding vat has crossed £100,000 then you will anyway need to compulsorily file your returns online. However, you can still file your returns online whatever your turnover if you want to experience security and convenience.

Instead of filling out vat returns manually and then sending it by post you can now fill them online and send it to hmrc in an instant. The website of hmrc offers a secure platform and you can also fill up vat return form 100 or 193 at any time of the day or night. Your vat agent can also get registered to file returns on your behalf while you can also receive reminders from hmrc to file your returns on time once you register at their site. You will only need to register once to get all vat online services offered by hmrc that include filing of online vat returns, filing applications for vat refunds on vat already paid in another eu country, and can also download all vat forms issued by hmrc vat. The website itself is very easy to negotiate and you need not have a broadband internet connection or be a computer expert to learn about and use all online services offered by hmrc.

Once you start levying vat to your clients and start paying vat on your purchases then you will also need to file vat returns summarizing your transactions at regular intervals. Instead of wasting time filling these returns manually and rushing to post them at the last minute you can now do the same by using your computer and the internet. You or your authorized vat agent can now file vat returns online in a secure and convenient manner.

If your business is based in the UK and you import goods or services from member eu countries that levy vat before import of the same, then you will need to apply for VAT refund on imports to significantly lower costs. Compared to vat refunds for casual travelers, which is quite straightforward, reclaiming paid vat for businesses is time consuming and requires help from vat professionals.

All eu countries that follow the system of vat follow directives issued by the European Commission. The EC has issued eu vat rules that are interpreted by all eu countries before being issued in their own country. Thus, in the UK you will need to abide by uk vat rules issued by the UK vat department managed by Her Majesty’s Revenue and Customs or hmrc. If you have crossed over the vat threshold limit of £70,000 of taxable sales in the previous 12 months and turned into a vat registered trader in the UK then you can now apply for vat reclaim on any import of goods from any eu country where vat has already been paid on the same.

The basic principle of vat is to do away with the problem of double taxation and if the goods that you have imported into the UK have already been taxed in the country of origin then your product costs would certainly rise and make it difficult for you to compete within the market. On the other hand, if your employees need to attend trade shows or exhibitions in eu countries that levy vat on such services then you can apply for a vat refund for vat applied on such services too. You should remember that you will need to supply proof in the form of vat invoices or vat receipts so as to determine that exact vat rates that you have already paid, before your claim is successfully processed by hmrc and the vat department of the concerned country.

Since each vat claim could take between 4 to 8 months to process, it would be better if you allow your vat agent to handle all the virtual paperwork since you will anyway need to make an online application to hmrc. You can apply by filling out an applicable vat form for vat refund online after you register for vat online services offered by hmrc. Once your vat agent has applied for a vat refund then hmrc, in turn, will forward your application along with all documentary proof attached, to the country of origin where the vat amount was initially paid. If all your documents are in order then you might receive your vat amount back into your bank account within 4 months but in case of any additional query then you will need to wait for a total of 8 months for your money to get deposited into your account.

Your vat agent can follow up on all your vat claims in return for a percentage of those amounts. You need not invest any money initially even as this arrangement spurs your vat agent to try harder for successful vat reclaims. This will allow you to concentrate on your business as each successful vat refund will lower your costs significantly while improving your cash flow at the same time.

If you are a vat registered trader in a eu country that follows the system of VAT or value added tax then you should claim vat amounts spent on business purposes since claiming vat expenses can certainly reduce your business costs. For example, if your business is located in the UK then there are several expenses that can be claimed back provided you meet the criteria set by HM Revenue and Customs or hmrc.

The hmrc vat department has laid down specific rules on vat reclaim on certain expenses related to your business. For example you cannot claim expenses made on entertainment of customers or suppliers although you can claim back expenses made on employees. If there are business contacts as well as employees that have been entertained together then you can claim back expenses related only to employees. If you give away business gifts then you can normally claim those expenses back in vat. In addition, in case you do not give more than £50 worth of business gifts to a single person in 12 months then you need not account for vat too. You need not account for vat on any free samples give by you to anyone.

Again, if you plan to reward your hardworking employees by throwing a staff party then such vat expenses can also be legally claimed back since they are considered for business purposes. Although these vat rules apply to businesses in the UK, other eu countries too have their own rules regarding claiming of expenses. Most eu countries however do allow refunds on expenses related to car rentals, food, hotel accommodations, training, or any other type of professional fees given in the same country or even in a foreign country that follows vat. Similarly, if your employees attend trade shows, exhibitions or conferences in any foreign eu country that follows vat then again, you are entitled to apply for a vat reclaim by providing all necessary proof to the vat department in your country. The documents are then sent electronically to the country of origin and the entire process of vat refunds usually takes between 4 to 8 months.

However, if you have indulged in business expenses in your own country or in another country then you should try to recover those vat expenses back. You should contact expert vat agents that usually take their fees as a percentage of those vat refunds and that too only when the amount is recovered back. This will put you in a win-win situation while lowering your business costs when you successfully reclaim each expense that is connected to your business. You will normally have around 6 months in the next calendar year to make a claim for vat refund for expenses incurred in the previous year. The European Commission has issued a directive that explains all about the expenses that can be claimed by member eu countries that follow vat, although it is better to check on vat rules applicable in your own country too.

If you are a vat registered trader in any eu country following the system of vat tax then certain business expenses can certainly be claimed back. Your vat agent can help you to identify such vat expenses and follow the proper procedure to file for reclaiming vat paid earlier so as to reduce your business expenses to a large extent.

Although VAT has been embraced by several eu countries including the UK, rates and classifications have not been completely standardized and the European Commission has now embarked on an exercise of bringing eu countries under a common vat umbrella with suitable vat directive. The directive aims to establish a common system of vat across all European Union member vat countries so as to reduce conflicts caused by varying vat rates and difference in policies.
Although vat has been embraced by several eu countries including the UK, rates and classifications have not been completely standardized and the European Commission has now embarked on an exercise of bringing eu countries under a common vat umbrella with suitable vat directive. The directive aims to establish a common system of vat across all European Union member vat countries so as to reduce conflicts caused by varying vat rates and difference in policies.

This directive covers several aspects other than simply establishing common vat rates. The directive has already instructed member states to charge a standard vat rate of not less than 15% on most goods and services. The reduced rates too have been set at not less than 5% on certain goods and services. However, member states can consult the vat committee to apply special reduced vat rates, apply zero vat rate or even exempt certain goods and services from any vat tax at all. These goods and services are usually related to socio-economic sectors such as hospitals, schools, banking, insurance, postage stamps, and even gambling.

The vat directive also seeks to standardize vat refunds for vat amounts already paid in a eu vat country before it is exported to another vat enabled country where vat is charged again. These vat refunds can be applied for and received through a specific electronic procedure. For example, if a vat registered trader in the UK has imported certain goods from Sweden where vat has already been paid then the trader can apply for a vat refund through HM Revenue and Customs department or hmrc vat, which handles collection and monitoring of customs, excise and vat duties in the UK. The application will then be forwarded to Sweden and the trader will then need to submit all relevant documents electronically to the vat department of Sweden before receiving a vat refund in the same manner depending on the specifications filled in the vat reclaim form.

These vat directives also cover goods and services taken from one eu country to another by travelers and other individuals. The directive also tries to plug tax leaks by bringing in specific rules for intra-community transactions for both suppliers and buyers. The latest directive is basically a recast of the original sixth directive that heralded in the common system of vat in eu countries, although it tries to further fine-tune the system of vat. Several eu countries including Greece and the UK have just increased or have planned to increase vat rates in the near future. Other countries too might follow suit in a bid to reduce the disparity between vat rates. There have also been several amendments to these directives as the eu tries to establish a common code of vat between all member eu countries that follow vat.

Vat aims to collect tax only from the final consumer instead of allowing double-taxation to raise prices of goods and services in an unwanted manner. However, since there are several eu countries that have adopted vat it is necessary for the European Commission to issue a common vat directive that seeks to codify all provisions governing vat on all member eu countries that have adopted vat.

If your business is situated in any VAT enabled eu country or in the UK then paying applicable vat customs and excise duties is crucial for a healthy business. If you fail to pay the correct amount of duties then you could either end up inflating your business costs or end up on the wrong side of the law, in which case you could end up being penalized.

If your business involves importing goods or services into the UK then you will need to pay customs duties on the same unless they are classified as exempt from any levies. In case you are a manufacturer in the UK then the goods manufactured by your business will be subject to excise duties. Customs duties are also known as import vat in the UK and most eu countries that follow vat have somewhat similar rules while collecting duties and taxes. If you are a vat registered trader or manufacturer in the UK then you will be subject to rules stemming from the Vat Act of 1994 along with various amendments applicable over the coming years.

The HM Revenue and Customs department or hmrc department has around 14,000 classifications under which all goods and services are classified. These attract a standard vat rate of 17.5% or a reduced vat rate of 5% or attract zero vat rate. Some goods and services such as those related to children or gambling are vat exempt too. You will thus need to first confirm the correct classification of any goods or services being imported and sold in the UK by your business so that you end up paying the right amount of vat customs and excise levies over them. This can be achieved by hiring an efficient vat agent that has complete expertise in uk vat, eu vat, customs and excise rates and rules.

This move will ensure that even if any vat is paid in the country of origin over any goods or services, you can still apply for vat reclaim to recover it back into your bank account. Your vat agent can help file for a vat refund while also filing regular vat returns. This will be possible only if you have vat registration in the UK. However, you can get vat refunds only on any customs, excise or vat levies paid on goods or services that are directly related to your business. Such refunds can take up to 8 months to materialize but can surely help in improving your business cash flow in the long run.

Hmrc vat department will also monitor your vat returns that will need to mention payments and receipts of all vat amounts on a monthly, quarterly or yearly basis depending on the vat scheme chosen by you. In addition you will also need to maintain records of all customs and excise duties paid by you and will need to be produced on demand in case of an audit conducted by hmrc officers. An efficient vat agent can ensure that your business does not get interrupted due to poor maintenance of records connected to customs and excise customs vat.

If you are importing goods or services into the UK or even manufacturing them in the UK then you will surely need to ensure that you end up paying the correct rate of customs duties, excise duties or vat on them. A competent vat agent would be your greatest asset in ensuring that all your vat customs and excise duties are paid dutifully as well as proper records are maintained for the same.