Reason One…..

Better Profitability – One of the mistakes many companies make is that by failing to recover the foreign VAT you have incurred on your overseas business activities, you are simply paying too much for these activities. There are literally billions of pounds in lost revenue that could be in the bank accounts of many companies who work on an international level.

As a reminder, businesses who are a UK or EU VAT registered business or individual incurring VAT within the EU; a non-EU registered entity or individual incurring VAT within the EU;  incur expenses for a business purpose and  are VAT registered in the country that your business is established are eligible to get a refund of the VAT incurred on costs such as:

Exhibitions, Conferences & Seminars – Attendance, facilitating or sponsoring an event

EU Business Property purchases – VAT paid in purchasing a property, all renovation, refurbishment and professional fees are 100% recoverable if the property is “opted to tax”

Reclaiming overpaid VAT, a refund on your costs, cashback! Whichever way you look at it the global VAT refund mechanisms available really are your opportunity to get money back in your bank account and increase your profits… it really will improve your bottom line!

We were delighted to be appointed as one of the official service providers at last month’s Farnborough International Airshow.

Many of the international businesses we met with at the show weren’t aware that they were entitled to recover the UK VAT charge on the costs they were incurring from either exhibiting or attending the show or what and how they could get this money back.

With orders at this year’s event down by around 47%, and trade visitors down by 8%, not even this event could avoid the given economic climate, so getting the VAT back on the costs incurred at the event either as an exhibitor or trade visitor, is an obvious way to make savings and enhance the profitability of the orders taken.

Here’s a couple of examples of what we’ve saved some of the companies who exhibited at this year’s show:

Case Study 1:

An American corporation have saved £173,000 on the cost of their stand and about to save a further £13,000 on costs incurred during the show.

Case Study 2:

A smaller South American company will save  £8500 on the cost of their show, simply by reclaiming the VAT they have incurred on their show costs.

Find out more about one of the biggest tricks in the book click here

Our mission is to make the process of refunding VAT to you as simple as possible, and whilst the only input we require from you is for you to provide us with all your invoices, there are a few things you can remember to help things run as smoothly as possible whether it’s before, during or after an event:

Save time – make sure your team collect as many invoices as possible to save having to go back through accounting records;

Be compliant – credit card vouchers are NOT acceptable. The tax authorities handling your claim will only accept original receipts to authorise the refund

Maximise recovery – remember that almost everything you do or pay for whilst exhibiting or attending an event will carry VAT. With the exception  of entertainment and car purchases ALL THE VAT ON THESE COSTS CAN BE RECLAIMED so make sure you get receipts for everything your are entitled to get the VAT back on.

Follow these tips and you’re VAT reclaim can be submitted without delay, and ultimately the money back in your bank account a lot quicker!

To find out more about getting a refund of VAT click here