The need to make accurate and timely VAT recovery claims is more important than ever, in light of the U.K.’s impending Brexit. What should businesses do now?
We’re already two months into 2018. The deadline for businesses to submit claims for VAT incurred in other EU member states during 2016 passed at the end of September last year (or June for non-EU businesses). (The only exception to this is the U.K., where claims made by non-EU businesses will be for VAT incurred in the 12-month period July–June. As a result, claims must be submitted by the end of the following December.)
The deadline to make claims for 2017 isn’t until June/September this year. So, you might think that there is no pressure to prepare or make any claims now. In fact, the opposite is the case, particularly for U.K. businesses managing the journey to Brexit.
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