Industry sector: Transport

Coach firm: VAT repayments

VAT repayments may be made to VAT registered businesses if they pay out more in VAT on their purchases than they charge on their sales.

This might happen when you first set up your business and spend a lot on vehicles, equipment and so on. Once your business is up and running you will be spending large amounts of money on fuel, on which you will be able to reclaim the VAT.

If most of your sales are zero rated you may be entitled to a VAT repayment every quarter.