Businesses lose out by not reclaiming VAT

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In 2010, £124 million went un-recovered by businesses as a result of businesses not keeping or obtaining valid expense receipts. This figure could rise to £140 million in 2011 due to the rise in VAT rate.

We’re urging clients to improve and enhance policies, ensuring receipts are obtained from employees to support claims.Please contact the office for a handy guide on best practice in record keeping.

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