VAT on entertaining overseas customers
In the light of a recent European Court of Justice decision, HMRC now accepts that it did not have the legal powers to withdraw the right for businesses to reclaim VAT incurred on the cost of entertaining overseas customers.
Therefore businesses that have restricted VAT recoveries in the past may now submit refund claims. These claims will be limited to the past four years under standard “capping” rules.
Please contact us for further information and guidance on this matter.Talk to Barnes Roffe today