Have You Overclaimed VAT on Exports or Imports?

The effects of Brexit and supply chain delays have had an impact on British businesses in many ways. One of these is the incorrect claiming of VAT on goods being imported or exported, which can lead to cash flow problems, unwelcome fees and potentially even an audit by HMRC. 

 

We’ve recently helped a new client who had accidentally overclaimed VAT on exports and imports, which had hit their cash flow very hard indeed. Multiple errors needed to be rectified and the company’s tax required reanalysis to ensure that it wouldn’t get in trouble with the taxman. Neglecting even the most innocent of mistakes can lead to time-consuming, disruptive and costly repercussions for a business, so our client made the right decision by getting in touch with our tax and VAT specialists right away. 

Do you think you may have overclaimed VAT on exports and/or imports? If so, call our Yorkshire office on 01482 235575, our London office on 0207 885 0605, or fill in the contact form below.