If you’re like many businesses in today’s economy, you are worried about Value Added Tax (VAT) rates. Concur can help you minimise the impact of VAT rates on your organisation by maximising your VAT reclaim potential through our online travel and expense solution.
Today, 80 percent of companies who try to recover VAT encounter difficulties because they do not understand the opportunity, it is time-consuming and resource intensive or they lack local tax expertise. By automating your travel and expense management process with Concur, you will benefit from having one seamless solution to manage your expense reporting process. You will also have easy access to data which will allow you to recover critical cash through VAT recovery.
Benefits include:
- Maximised VAT Recovery: Concur’s data analysis tool quickly and easily identifies possible VAT refund opportunities and ensures that users enter the correct information to identify potential VAT reclaim opportunities both in the UK and abroad.
- Full Visibility & Control: Greater management of ongoing VAT claims with access to online tracking that predicts and manages financial accruals, budgets and cash flow.
- VAT Compliance & Compliant Receipts: Save time and increase VAT refund potential by capturing electronic receipt images complying with HMRC VAT standards for VAT reclaim.
Every year, organisations lose millions of pounds through unclaimed VAT. With Concur, you can maximise domestic and foreign VAT recovery and reduce the costs of conducting business abroad, which means more cash in your organisation’s hands.