Adsum, a leading innovator in digital tax solutions, has experienced a surge in customer adoption following its integration with QuickBooks Online. This collaboration introduces InstantVAT to QuickBooks customers, a pioneering solution designed to accelerate VAT repayments, significantly improving cash flow for business owners.
Since its launch in December 2024, InstantVAT has unlocked over £1.16 million in cash flow for QuickBooks users, saving businesses an estimated 610 days (1.67 years) of waiting time for VAT repayments.
The service seamlessly connects to a business’s HMRC account, monitoring submissions and releasing payments as soon as HMRC verifies the return.
Greg Wixted, Founder of Britain Loves Baking, said: “I had three returns to do, and as soon as they were accepted, I was paid out in minutes. Amazing how much getting the VAT money back earlier means to a business.”
Nigel Burton from Inter Recruitment said: “A fantastic service. We posted our VAT return on Thursday evening, and the money was in our account by Monday morning. This saved weeks of waiting through HMRC at a minimal cost. I would definitely recommend Adsum to any business.”
Who is eligible for InstantVAT?
InstantVAT is available to all UK VAT-registered businesses that are in a refund position.
How to get started with InstantVAT:
Getting started with InstantVAT is a simple process. Businesses can create an InstantVAT account using its QuickBooks credentials, ensuring a smooth set-up. After activating the service, businesses will start receiving VAT refunds immediately upon HMRC verification.
