Our Approach
- Discussions with our client to fully identify their current supply chain
- Identified need for and supported with applications for necessary VAT, EORI and Postponed Import VAT accounting approvals
- Provided support with invoicing requirements; including necessary invoice statements and with communications to customers to explain the new
The Benefits to The Client
- The solution removed the need for significant volumes of customs and other supporting documentation for each shipment.
- In addition, the need to make upfront payments of import VAT on entry of the goods into the EU was removed. This avoided an average 3-6 month wait for the refund of the VAT outlaid.
- As the invoicing to the overseas clients was done by a UK entry (rather than a new entity set up in the EU), the client was able to continue to benefit from invoice financing arrangements with their financial advisor.
- As we provided support with the necessary invoicing statements and customer communications, resistance to the changes from customers was removed.
The Plus Factor in Action
- We helped our client make money by the removing cashflow impact of import VAT payments
- We gave our client peace of mind by ensuring that they were able to continue with their existing vital invoice financing arrangements
- We saved our client time by significantly reducing the volume of customs and other supporting documentation required for each consolidated load
- We supported them now and in the future by continuing to support the client in relation to the invoicing and other communications to suppliers
