TOOLING VAT
What is Tooling VAT?
Most tooling VAT comes in the form of foreign vendor invoices which often incur substantial vat leading to an impactful reclaim opportunity. VAT is charged when acquiring the components and machines needed for production such as fixtures, injection moulding gauges, cutting equipment and patterns. Typically the automotive and pharmaceutical industries incur the largest amounts of tooling VAT.
Scenarios in which VAT on Tooling is recoverable
Hotel & accomodation
VAT on the development of samples or models for testing purposes.
Import VAT on Warranty Parts
VAT on goods returned with manufacturing defect within the warranty period.
Outsourced manufacturing
VAT on the use of outsourced manufacturers to produce machinery parts.
Repair/Alteration post purchase
VAT on repairs of components, parts and machinery needed for the production of goods.
Production equipment
VAT on production components such as fixtures, gauges, injection moulding, die casts, cutting equipment and patterns.
Tooling Industry Experts
VAT IT has dedicated experts who understand the Tooling industry. This means we know where to look, how to find the VAT and what information is needed to submit a large VAT reclaim. Our relationship network connects us directly to suppliers to get the original invoices and information required.
Need more information on Tooling VAT?
Download our Tooling VAT brochure to learn more.
