If you’re a vat registered trader in the United Kingdom or perhaps some other member EU country which has embraced vat then you need to conduct a vat check of the supplier before finalizing your transaction, particularly if you plan to import services or goods to your country. It is really fairly simple to conduct a vat number check over the internet before you decide to spend your hard-earned money.
VAT or value added tax is a system of taxing goods and services that is followed in a number of countries across the globe including most eu countries. If you are a trader in the UK that may be importing services or goods from other eu countries where vat was already paid in the country of origin you’ll be able to make application for a vat refund. This will permit you to reclaim vat paid earlier in order to avoid double-taxation. However, it is necessary that you simply purchase your goods from a vat registered trader or exporter overseas so that the chain of vat continues as soon as the services or goods are imported to the UK.
However, there just might be a chance that an unregistered vat trader might try to dupe you of your savings by charging you vat whilst providing you with a fake or expired vat number on the vat invoice. In such a case, you may not vat check have the ability to reclaim any vat on that transaction, which in turn will raise your costs and deny you your rightful refund. It is actually thus vitally important to conduct a vat check that typically takes a short time when you get on the official European Commission or EUROPA website that allows you to conduct a vat registration check and validate if the supplier has indeed given you a genuine vat number.
All you need to do is log on to the EUROPA website ec.europa.eu directly or visit the hmrc vat department website and follow the link provided at the website. All you have to do is to choose the eu country of the supplier, type in the vat number of your proposed supplier, choose your country code, and enter your own vat number. You will now need to click on verify, upon which the verification software will inform you if the vat number is valid.
Whenever possible, you should try to print the validation screen as proof of having conducted the check at the particular date and time. If the registration number is not valid you’ll be able to tell your supplier since there could be a lot of reasons for this kind of response, including an authentic mistake in providing you with the vat number to willful wrongdoing on your supplier?s part. You should remember that ultimately it’s your business that will suffer if you fail to conduct a vat number check.
Performing a vat registration number check is extremely important if you plan to purchase goods or services from vat registered traders in a foreign country that also follow the system of vat. The exact checking process hardly takes more than a few seconds and conducting a vat check will definitely save your business a lot of money and pain in case the supplied vat number turns out to be incorrect.