" class="no-js "lang="en-US"> ADSUM Breaks New Ground with Instant VAT Refunds for Businesses - Fintech Finance
Thursday, June 01, 2023
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ADSUM Breaks New Ground with Instant VAT Refunds for Businesses

Today marks a significant shift in power for UK businesses as Adsum introduces its game-changing Instant VAT Refund service. This innovative solution offers businesses access to VAT refunds within 60 minutes of submitting their VAT return, effectively transferring power from HMRC back into the hands of the businesses.

Adsum’s Instant VAT Refund service is a beacon of progress in a landscape often bogged down by administrative red tape. Businesses have been at the mercy of time-consuming VAT refund processes. Now, businesses can focus on reinvestment, growth, and expansion, bolstered by the certainty that their VAT refunds will be delivered to their bank account within 60 minutes of submitting their VAT return.

Historically, claiming and recovering VAT refunds has been drawn out, often taking HMRC weeks to process and disburse. With Adsum’s Instant VAT Refund service, businesses can bypass this outdated system and gain immediate access to their funds. With one in four of all VAT returns resulting in a VAT refund, the potential impact of this service on the UK business landscape is significant.

In an era where economic challenges are growing; inflation rising, interest rates are at 10-year highs and high street lenders reducing lending to smaller enterprises, Adsum’s Instant VAT Refund service provides a welcome breath of fresh air, offering resilience and financial independence to businesses, bypassing HMRC delays and offering reliable, consistent cash flow.

Adsum’s MTD-compliant service seamlessly integrates with a company’s existing VAT infrastructure. This ensures minimal disruption to businesses while providing maximum benefit regardless of what software you use or who submits your VAT returns.

With HMRC refunding over £77Bn of VAT to businesses every year, Adsum has positioned itself as a people’s champion, conducting all necessary checks and already processing over £160m in tax refunds for UK companies

Justina Tartilaite, CEO of Adsum, comments: “Our Instant VAT Refund service is a commitment to empower businesses, to give them control of their funds, and free them from the constraints of cash flow uncertainty. We believe that every minute counts in business, and with our service, businesses can get their money within 60 minutes – a stark contrast to waiting weeks for HMRC. We’re thrilled to be a part of this financial revolution, giving power back to UK businesses. Adsum is changing the way businesses receive VAT refunds; it’s a modern-day Robin Hood, taking power from a system long mired in bureaucracy and giving it back to the businesses that keep the UK economy thriving.”

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