lients lose millions in taxation

Event planners are throwing away millions of pounds a year in VAT payments within the EU, delegates learned today. Speaking at a seminar at this year’s C&IT Corporate Forum, Tax Back International commercial director Niamh Murray told representatives: “According to EU figures, 80% of UK companies do not reclaim any VAT from business payments made on the continent, whereas, depending on which country you’re dealing in, up to 25% can be re-claimed.” Murray added that the events industry was better than most sectors because it was more used to operating overseas. However, when the audience of event managers from the financial, pharmaceutical, charity, motoring and utilities sectors was asked what their companies reclaimed, none knew how much, if any, VAT was being claimed back for everyday costs such rooms and entertainment. “A lot of corporate clients are being double-taxed – paying VAT in the UK and in the country where the event is being held. We have even come across cases where unscrupulous DMCs are claiming back money on their client’s behalf and keeping it for themselves,” Murray added. One delegate who did not want to be named told C&IT: “We have offices all over Europe and it would make sense to use those offices to book events, but we don’t and I’m pretty certain we’re not claiming back the money we should be.”

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
How events can save the world

Crisis planning, sustainability, wellbeing and inclusion can cause difficulties for event organisers. So is it possible to host a truly ethical event?

Wellbeing makes 'good business sense'

Wellbeing makes 'good business sense'

Annie Metcalfe from Clear Partners says planners must adapt to the changing demands of incentive travel programmes.

Amex GBT appoints new general manager for meetings and events

Amex GBT appoints new general manager for meetings and events

Gerardo Tejado has held a number of commercial and client management roles at American Express GBT over the past 17 years.

Incentives are coming: 7 Game of Thrones-inspired destinations

Incentives are coming: 7 Game of Thrones-inspired destinations

From Croatia to Northern Ireland, the fictional land of Westeros has filming locations around the world ideal for meetings and events.

What does an HR expert look for in Best Places to Work accreditation?

What does an HR expert look for in Best Places to Work accreditation?

An independent HR consultant explains what judges are looking for in accreditation like C&IT's Best Places to Work.

Events budgets return to steady growth, Bellwether Report finds

Events budgets return to steady growth, Bellwether Report finds

UK companies increased their marketing spend in Q1 2019, in contrast to flatlining budgets at the end of last year.

'Unlocking the best parts of destinations' is key for event planners

'Unlocking the best parts of destinations' is key for event planners

Venues should use their expertise to help familiarise planners with a new destination, says panel at the C&IT Association Forum.

Case study: CoinGeekWeek conference

Case study: CoinGeekWeek conference

CoinGeek transformed The Mermaid London for its three-day conference on cryptocurrency and blockchain.

New senior account manager for Top Banana

New senior account manager for Top Banana

Natalie Benson joins from ACA Live and will work on finance, automotive and retail accounts.

Facial recognition will change the way we measure audience engagement

Facial recognition will change the way we measure audience engagement

This kind of technology could scientifically prove the value and impact of events, says Dan Broadberry from Brands at Work.

LATEST JOBS