VAT and similar taxes

Latest

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  • Compound interest and repayments of overpaid VAT

    Article

    Last Reviewed: 07 November 2017 / Submitted: 22 May 2015

    The Supreme Court has held that EU law does not require the UK to provide for compound interest on repayments of overpaid VAT.

  • VAT, research and MiFID2

    Article

    Submitted: 07 November 2017

    HMRC draft guidance confirms that investment research services will attract VAT post MiFID2 unless they fall within the exemption for fund management services.

  • Withdrawal of VAT insurance exemption for pension fund management provided by insurers

    Article

    Last Reviewed: 27 October 2017 / Submitted: 09 October 2017

    HMRC will withdraw their policy of allowing insurers to treat supplies of fund management services as VAT exempt insurance from but have agreed to consult on timing.

  • VAT, composite transactions and lease and leaseback arrangements

    Article

    Submitted: 26 October 2017

    The Upper Tribunal has held that a person that entered into a sale and leaseback transaction nevertheless disposed of their entire interest in the relevant residential property so as to give rise to a deemed taxable supply.

  • VAT, Asset Management and Pensions Restricted access

    Seminar

    Last Reviewed: 24 October 2017 / Submitted: 11 October 2017

    We look at the latest test cases on VAT exemption for pension fund management, the judgment in the Investment Trusts case, balancing regulatory duty to treat customers fairly vs managing litigation risk, latest case law on scope of VAT exemption for fund management and administration, and latest developments in the Littlewoods compound interest claims’ case.

  • Brexit: Customs Bill

    Article

    Submitted: 19 October 2017

    The Government has set out plans for legislating a new Customs Bill to provide for the continuation of VAT, customs and excise duties post-Brexit.

  • Wheels keep turning

    Article

    Last Reviewed: 09 October 2017 / Submitted: 10 January 2017

    Wheels Common Investment Fund Trustees has been allowed to amend its claim for repayment of overpaid VAT on investment fund management services to a defined benefit scheme to argue that the imposition of VAT was in breach of EU law since similar services provided by an insurer are treated as exempt insurance supplies.

  • VAT and management of pension funds

    Article

    Last Reviewed: 09 October 2017 / Submitted: 07 March 2013

    The ECJ has held that an investment fund pooling the assets of a retirement pension scheme is not a special investment scheme for VAT exemption purposes where the members of the scheme do not bear the risk arising from the management of the fund.

  • Definitive reform of the EU VAT system

    Article

    Submitted: 05 October 2017

    Proposals have been announced to introduce a destination based system for cross-border supplies of goods within the EU by 2022.

  • Cost sharing exemption limited to public interest activities

    Article

    Submitted: 25 September 2017

    The cost sharing exemption from VAT for groups engaged in exempt activities is limited to persons carrying on activities in the public interest.

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