Can I reclaim VAT as a business?
The short answer is yes, you can reclaim your VAT back from your Electric provider. It’s not a popular subject but if you are having to deal with large bills every month then it is worth looking into as there are a number of easy and quick ways that can help you save money.
The most important way to start with if you wish to reclaim your VAT is to see if you are paying too much in fuel poverty. How does this figure exactly? This is based on the amount of money you spend every year on your fuel bills. The higher the figure the higher your fuel poverty rate. It will shock you to learn that this figure can be double or triple that of the average UK household. So don’t think for a second that you don’t have any VAT relief as you may be shocked at how much you really do owe.
How can I reduce my fuel poverty rate?
There are many easy ways to bring down your energy bills by improving your insulation and heating efficiency. You can also make sure that you are fully compliant with all of the regulations regarding European efficiency targets. In addition you can help yourself by using energy-efficient appliances, switching to energy efficient light bulbs, turning lights off when not required and even using products designed to save energy and reduce the amount of gas used. As you can see these steps may take some time but they are very easy and inexpensive to follow.
Can I reclaim my VAT as a business? Of course, you can but you first need to ensure that your business is fully covered. A full assessment is needed to check whether or not you qualify for small business relief. If you do then you should be able to reclaim your VAT as a business so long as it was directly incurred as a result of your VAT recovery.
Where can I get a good price for my excess electricity?
In order to find the right price for your excess, you will have to contact a specialist company who will be able to give you a rough guide. However, there are also several bargains out there and if you are prepared to search then you could save quite a bit on your fuel poverty and electricity bill. Just remember that the more you are prepared to search the less you will have to pay and the easier your transition to the new way of life will be. However, if you don’t have the money to pay for a VAT recovery then this could pose huge problems so you should consider this option carefully.
Are there any ways I can reduce my fuel poverty while still claiming a VAT relief on electricity? Yes, but you need to act fast and start now. You can get advice from your local council on ways you can reduce your fuel poverty while still claiming a VAT relief on electricity. In addition there are many savings tips and advice groups out there to help you along the way and to give you advice on saving money. As always the key thing is to make sure you do not delay so that you do not lose your money on your new boiler and excess electricity.