FAQ’s

currencies-peopleWho is entitled to VAT Reclaim / Sales Tax refund?
In general any business apart from the following business sectors who are not eligible for the Business Travellers Tax Refund Schemes:
• Government bodies
• Banks / financial institutions
• Organisations receiving funding from Government funds

How much can I save?
That is depending on what you claim and the VAT rate that applies. On average asaving of approx. 20% is possible but only on eligible expenditure like:
• Trade fair and conference costs
• Meals and accommodation
• Advertising and promotional costs
• Professional services
• Inter-company expenses
• Training
• Car hire and fuel

How much will reclaiming my VAT cost?
That depends on the amount and frequency of your claims. The maximum fee is 25% of the reclaimed VAT, which will be retained when your payment is issued. Talk to our advisers to find out more about the fee percentage that will apply to your particular situation.

What documentation is required for VAT reclaim?
Original invoices & receipts. All invoices should be issued in the company name, (photocopies and credit card vouchers are not acceptable). We will make every effort to return the original invoices once your claim is processed.

When can I make a claim?
You can reclaim your VAT after every business trip but for the more frequent traveller it is probably better to submit every quarter.

Are there deadlines for making a claim?
There are strict deadlines imposed by most European governments. The deadline is typically a number of months following the relevant annual period in which the VAT was incurred. But in some countries you can also claim retrospectively. Our advisers will be able to assist you with any questions on these issues and can give you more detailed information that is applicable to your specific circumstances.

How long does it take to reclaim VAT?
We can process your application very quickly if all paperwork is in order and then submit it to the Tax Authority. The process at the Tax Authority can take between 4-6 months before your refund is issued.

 

How often does the Certificate of Status and Letter of Authority need to be renewed?
Certificate of Status is valid for 12 months – needs to be renewed yearly. Letter of Authority is a one off registration form.

 

How will I receive my refund?
By Bank transfer or Cheque

 

Are there Bank charges for receipt of refund?

• Local Currency Bank Transfer incurs a cost of £5GBP,
• Sterling Cheque £5GBP,
• Sterling Bank Transfer to Foreign Account will incur Bank charges of £20GBP
Please note: Your Bank may charge a fee for receiving payment and your bank may deduct a fee before crediting your account GB Business have no control over this.GB Business advise you to ask your bank what charges may be applied when receiving funds from overseas by transfers/cheque. Your Bank fees are your responsibility.

 

What information is required for payment by bank transfer?
In most cases we need the following:
• Company Name
• Company Address
• Bank Name
• Bank Address
• Bank account Name
• Bank account Number
IBAN-Routing code
SWIFT code
• NSC or BIC code (sort code)
• Your Payment choice

All fields are REQUIRED FIELDS to make payments.
Please do not hesitate to contact us if you have questions about the payment choice, IBAN, SWIFT, NSC/BIC codes as there are varying bank requirements for different countries.

Can I get the refund paid into a personal bank account instead of a business account?
Yes, but only if you are a director of the company, this must be requested in writing on company letterhead and signed by the company director

 

What information is required for payment by cheque?

• Company Name
• Company Address
We can NOT issue personal cheques and/or separate cheques per employee.

Can you explain the payment timeframes?
Once we have received payment details from you and have received your refund from Refunding authority, you will receive your payment within 10 working days. Along with the payment you will receive an invoice statement detailing the refund payment and any deductions made for your records.

What currencies are available for my payment?
Your payment can be made in all the major currencies

Can you explain what is stated on my invoice?
Your invoice statement will contain the details of the refund payment of refund including:

• Date of invoice/payment made,
• Invoice number,
• Client account number
• Amount refunded from the Refunding Authority,
• GB Business fee percentage and amount,
• Postage or bank charges applied
• Foreign exchange rates applied where relevant
• Total of Vat refund payment issued
• Contact details for any queries on payment process.
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