- Companies are missing out on VAT rebates that could help with cash flow
- Scottish businesses could be losing around £10 million of recoverable VAT every year
- UK businesses could be losing around £150 million in unclaimed VAT
- VAT reclaim rules vary based on corporate and share structures
- Azets found that the UK’s M&A industry generates significant VAT on professional fees
- It is important for both buyers and sellers to prepare a detailed VAT plan
- Business owners have up to four years to submit a claim to recover VAT on qualifying costs
- Azets has prepared a VAT reclaim ready reckoner for businesses and advisors to review recent transactions.
Source: magazine.dailybusinessgroup.co.uk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
