There is no such thing as free money but there is a commonly overlooked cash source that can give your company a very welcome 'revenue' boost.
Around four per cent of global travel spend offers reclaimable VAT but many companies don't bother recovering the VAT they've incurred in the course of doing business abroad.
The VAT recovery process can be administration-heavy, but the time spent analysing the data in your systems and maybe even digging through a deep, dark basement to locate eligible receipts can be quite lucrative. How does a seven-figure cash injection sound?
Listen to the 'free money' episode of the Value Added Talk podcast below, where Jacek, Sylvia and Rob discuss the VAT recovery process and how much of a boost it can give to your bottom line.
Click here to download your 'free' money FAQ sheet.
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Short on time? Skip ahead:
00:01 Intro
01:53 Topic of the day: 'free' money
03:18 VAT recovery or VAT reclaim – what is it and how much
money can businesses claim back?
16:36 How to identify and find recoverable VAT
20:25 How to recover the VAT
22:57 Specific claim periods and deadlines
23:51 Potential obstacles
30:32 Key takeaways
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.