Companies that are operating in the US and are not established or VAT-registered in the UK, can incur significant amounts of VAT on expenses paid. This means that these companies can recover some, or all, of the VAT incurred, thereby reducing their cost significantly.
Did you know that a staggering €160B in Value Added Tax (VAT) revenues were lost across the EU in 2014 alone! Just imagine how much of your company’s money is part of this €160B lost revenue.
If your company is based in the US, Switzerland or any other NON EU country, we would like to update you that the deadline to claim VAT on business expenses in the UK is 31st December 2016.
Under the Thirteenth VAT Directive (86/560/EEC) US based businesses visiting the UK are able to claim VAT refunds on VAT incurred on goods and services acquired in the UK from the period July 1st 2015 till June 30th 2016. You should know that there is no scope to submit late claims. If the deadline date is missed, the refund opportunity is lost.
Your US based offices can claim VAT on goods and services purchased during the refund period provided in the UK on accommodation (20% VAT!), fuel, car rental, road tolls, food, drinks and restaurant services, admissions to fairs and exhibitions and some more.
Keeping track of all structured and unstructured business expense is no simple task. Most expenses are charged on company credit cards while other expenses are paid in cash or with personal cards. In addition, not all electronic invoices are valid for VAT recovery and printed invoices often contain varied VAT rates that are not distinctly marked.
VATBox is more meticulous and efficient than any group of VAT experts. VATBox technology processes every piece of data providing data integrity of the highest level. Our sophisticated knowledge base accurately applies all the relevant rules, regulations and best practices, also for US based companies that would like to reclaim their VAT in the UK.
Act promptly and avoid missing the annual 31st December deadline date in the UK and let VATBox reclaim your VAT on time and with highly reduced VAT related risks!