Finance related articles, information and resources.
In: Taxes
16 Oct 2009We all have to pay tax on pretty much every purchase we ever make, and every wage packet we ever receive, it is what makes our economy work (when it is working) and what gives the government money to distribute to those areas that need it.
So tax is what makes our economy and more or less the whole capitalist system work by giving the government a slice of the profit from every transaction made in a store and every persons wage packet.
However, it is for these reasons that we all despise tax! Yes it allows our country to be run in a way that benefits everyone and yes, if nobody paid any tax then the chances are anarchy would break out, but even so, our money is being taken from us, so aren’t we entitled to at least have a little moan about it?
However if you are a citizen of a country outside the EU and you are visiting the UK (or one of the other qualifying countries within the EU) then there is a scheme in place that allows you to claim back tax that you pay on purchases from certain stores.
Here are the five steps you should take to ensure that you can claim back your tax:
1. Look out for the sticker in store windows indicating that they are part of the tax free shopping scheme.
2. Check what the minimum purchase amount is to qualify you for a tax refund and purchase at least that amounts worth of goods.
3. Once you’ve made your purchases and paid at least the minimum amount for your goods, ask for the tax refund cheque form behind the counter.
4. When you show your passport at customs on the way home, display the completed tax refund cheque form.
5. There will be a tax refund office nearby in the airport, or if you are in a hurry, you can send your tax refund form off to the tax refund company via post and the full amount of tax you paid on your qualifying purchases will given to you in the form of a cheque or credited to your credit card.
For more information on TFS visit gbtaxfree.com by clicking on UK tax free refund
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