If you’ve been paying VAT on business expenses abroad, there’s a good chance you may be eligible for a foreign VAT refund. Whether you’ve travelled for business, attended conferences, or rented equipment abroad, reclaiming VAT can help reduce your business expenses. But submitting a VAT reclaim isn’t as simple as just sending over receipts. There are a few key steps to ensure your submission goes smoothly and that you get your refund without unnecessary delays.
In this article, we’ve put together a weekend checklist to help you gather everything you need for your VAT claim submission. By following these steps, you can ensure that your documents are complete and accurate, making the process easier and quicker. Let’s dive in.
- Gather Your Invoices
The first and most important step in the VAT reclaim process is gathering your invoices. Every VAT claim is based on the invoices or receipts you’ve received for your business expenses abroad. Whether it’s a hotel stay, taxi fare, conference fee, or equipment rental, each invoice you want to claim VAT for must be in your possession.
What to look for:
- Clear and readable details: Ensure the invoice is legible and all key details are visible, including the supplier’s VAT number, invoice number, and the VAT amount paid.
- Business-related expenses: Only claim VAT for expenses directly related to your business. Personal expenses are not eligible for VAT recovery.
- Multiple invoices: If you have multiple invoices for different expenses (e.g., taxi rides, meals, etc.), make sure each one is accounted for.
Once you’ve gathered your invoices, double-check that they contain all the necessary information for your VAT reclaim. Missing details can lead to delays or rejections from tax authorities.
- Double-Check Dates and VAT Numbers
In order for your VAT claim to be valid, the dates and VAT numbers on your invoices must be accurate. Mistakes in these details are one of the most common reasons claims are delayed or rejected. This step is particularly important when dealing with international VAT reclaims, as each country may have slightly different rules for the validity of VAT invoices.
What to check:
- Invoice dates: Ensure that the dates on the invoices match the dates when the expenses were incurred. In many cases, VAT claims are only eligible if the expenses were incurred within a certain timeframe (e.g., the last 12 months).
- Correct VAT numbers: Confirm that the supplier’s VAT number is clearly stated on the invoice. This number is used by tax authorities to verify the legitimacy of the transaction.
If you’re unsure about whether the dates and VAT numbers are correct, it’s worth taking a moment to verify these details before submitting your claim.
- Make Sure You Have a Valid VAT ID
To submit a VAT reclaim, you need to have a valid VAT ID. This unique identifier is issued to businesses by the tax authorities and is used to track VAT transactions. If you’re submitting a VAT reclaim for a foreign VAT refund, your VAT ID needs to be registered in your home country and valid for the purposes of international VAT reclaims.
What to check:
- Valid VAT ID: Ensure that your VAT ID is registered and active. If you’re unsure, you can easily check with the relevant tax authority.
- Country-specific requirements: Some countries have specific requirements for VAT IDs in order to claim VAT. Double-check these requirements to ensure your VAT ID meets the necessary criteria.
If you don’t yet have a VAT ID, or if it’s expired, it’s important to resolve this before attempting to submit a VAT reclaim. The process of obtaining or renewing a VAT ID may take some time, so plan accordingly.
- Upload Your Documents and Let Us Handle the Rest
Once you’ve completed the checklist and ensured that all your documents are in order, the next step is uploading your documents. This part is easy and straightforward — simply upload your invoices, VAT ID, and any additional supporting documents through our secure online platform.
At this point, you can sit back and relax, knowing that our VAT reclaim experts will take care of the rest. From verifying your documents and ensuring compliance with local VAT laws to submitting your claim to the relevant tax authorities, we’ll handle the entire process for you.
Our experts are familiar with the intricacies of foreign VAT reclaims, including country-specific rules, tax authority preferences, and deadlines. This ensures that your claim is processed efficiently and that you receive your refund as quickly as possible.
Why It Pays to Submit Your VAT Reclaim
Reclaiming VAT is not only about getting money back; it’s also about maximizing your business expenses. By reclaiming VAT on eligible expenses such as travel, accommodation, event fees, and equipment rentals, you can significantly reduce your overall operating costs.
In addition, VAT refunds can be an ongoing source of cash flow for your business, especially if you regularly travel for work or incur expenses abroad. Every year, businesses across Europe leave billions of euros in VAT unclaimed simply because they don’t know what they’re eligible to reclaim or how to submit their claim.
Ready to Reclaim Your VAT?
Reclaiming VAT might seem like a daunting process, but with the right checklist and the help of VAT experts, it doesn’t have to be. By following the steps on our weekend checklist — gathering your invoices, double-checking dates and VAT numbers, and ensuring your VAT ID is valid — you’ll be well on your way to submitting a successful VAT reclaim.
To determine your potential VAT refund and learn how VATcube can help your business, take advantage of our free VAT assessment. Simply contact us through our FREE VAT Assessment form and our team will be happy to assist you.
Remember, the sooner you submit your documents, the sooner you can get your refund. So, don’t wait — start preparing your documents today, and let us take care of the rest.