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Sunday, November 22, 2009

Tax Free Shopping Scheme

By Liam McGulliver Fletcher

If you are an overseas citizen and are shopping in the UK, you can then file a claim back of the Value Added Tax that you have paid for the purchases you have made in London. The tax refund service is offered by many of the retailers that are located across the world.

The VAT is around 15% in UK and to claim back the amount that you have paid as tax you have to make a purchase for a minimum price that is fixed by the store. If you are a resident from outside the UK, you can reclaim the tax you have paid if you have spent a minimum of thirty pounds. And you should also get a Customs stamp on the final departure from the airport in order for you to claim your tax refund without hassle.

Shopping in the UK has never held more opportunities if you are visiting as a tourist from outside the EU. The luxury of being able to claim back tax on purchases is something you can take advantage of as a tourist while citizens must pay full price. If you are planning on bringing your purchases back with you, you should ask for a tax refund form in the shop while you're making your payment.

When you get to customs on your way back to your country of origin, you should produce your tax refund form along with all of your receipts for the items you are claiming tax back from and they will then stamp it, making it ready for you to take it to a tax free office when you get back to your country (there will usually be one in the airport) and then to have the refund either put onto a credit card or get it straight back in cash.

There are many shops all over London that display the "tax free" logo outside, so when you next find yourself in the UK, you should hunt some down, it will be well worth it!

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