hi there, i have recently done a trip to Italy where I need to claim back my expenses through my company. I use sage and just need to check what the tax code is for european transactions and what tax percentage is?!
Sorry ..my accountant is on holidya and i need to run my vat return.
thanks!
Reena
Reena
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You cannot claim overseas VAT through your return!
Hi Reena
You cannot claim any VAT suffered in other European countries through your VAT return, so any expenses outside the UK will effectively be non-vatable; you put the whole lot through, incl. VAT, as an expense.
You can, in certain circumstances, re-claim VAT suffered in European countries directly from them, but there are limitations on what can be reclaimed on a country by country basis. We have found that the only time it's worth bothering is if we exhibit at a German exhibition. We use an agent called 'Quipsound' to handle all our claims; they're very helpful but will take a cut of any refund. See http://www.quipsound.com/public/