Information on vat refund. What is VAT? VAT (Value Added Tax) can be compared to a sales tax, it levied on the expenditure of consumer goods and services and business transactions, which is paid by the consumer at the point of purchase and collected by Her Majesty’s Revenue and Customs (HMRC). First introduced to the UK in 1973, it is now a major source of revenue for the government.
In the UK there are four different categories for VAT: standard rate (17.5%) for goods and services considered to be ‘luxury’ items, reduced rate (5%) for goods and services considered to be socially or economically important, zero rate for essential goods and services and exempt rate for necessities. Some examples of zero-rated or exempt goods and services are: children’s clothes, food, public transport, newspapers, medicines, books, insurance, postal services and funerals.
For individual consumers, it’s a straightforward tax, paid at the point of purchase. For businesses, though, it’s a pretty complex system. However, put in simple terms, companies pay VAT on their purchases (known as input tax) and charge VAT on their sales (known as output tax).
Global Tax Reclaim have worldwide expertise reclaiming VAT from VAT authorities throughout Europe. By making one call to us today we could save your company thousands in unnecessary VAT on a yearly basis. We can look after the full procedure from organising and copying invoices to filing all the paper work. Since it is our daily business you will have an expert on your side who communicates with all the VAT authorities throughout Europe almost every day.
We reclaim Vat (VAT rebate), when the VAT is paid for services or travel expenses by Companies or Institutions outside their own country. If employees are attending business meeting or trade shows, for example, they will incur VAT, you are entitled to a refund of this VAT, we will reclaim this VAT on your behalf.
Global Tax Reclaim Ltd specialise solely in the management and recovery of foreign VAT. We provide VAT reclaim services in all EU member states and a number of Non-EU member countries.
Our expertise in VAT reclaim will be used to maximise refunds for you. Many companies are unaware that they are entitled to reclaim VAT charged on services they incur on business in Europe. On an obligation free basis click here to contact us.
Global Tax Reclaim Ltd can advise you of your VAT entitlements. Those who have attempted to reclaim their VAT themselves have found it to be an onerous and time-consuming exercise. Global Tax Reclaim Ltd perform this specialised task for you with minimal impact on your resources
Typical recoverable items range from employee travel related expenditure (e.g. hotels) to vendor expenses like inter company charges and employee relocation costs.
Eligible items for recovery vary from country to country, as do the rates of VAT charged (3 %- 25%). Attached is an Excel document outlining some of the more common recoverable items. Please note this chart is not exhaustive. Click here to view our VAT Chart
They cater for both large and small VAT claims. Our clients have found our services to be highly efficient, cost effective and trouble free. Complete confidentiality is guaranteed.