Why reclaim VAT?
Did you know, on average, UK businesses miss out on 54% of the VAT they can reclaim on travel and expense costs (Vanson Bourne)?
VAT reclaim is a huge opportunity to reduce business costs and put money back in your budget. HMRC allows businesses to reclaim the VAT (value added tax) paid on goods and services bought for business use. This includes travel and expenses such as the VAT on fuel.
SAP Concur can help you to successfully reclaim VAT on purchases related to business travel and expense.
How our solutions can help
Concur Tax Assurance by Blue dot uses AI and machine learning to automatically identify VAT-eligible expenses, validate receipts, and optimise reclaim potential. With this, businesses can navigate complex tax regulations faster and more accurately.
The data you need for accurate reclaim
We also offers an audit solution that lays the foundation for VAT refunds. As expense claims and VAT invoices are checked for compliance, line items containing opportunities to claim the VAT can be more easily spotted. It’s the first step to putting money back into your business.
We’ve put together the Expenses, VAT and HMRC Compliance in a Nutshell’ eBook which can help you to find everything you need to know about VAT and HMRC compliance best practice.
If you’re ready to reclaim VAT across your travel and expense spend, get in touch with SAP Concur today.
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