VAT and similar taxes


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  • Brexit: Customs Bill


    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.

  • VAT, Asset Management and Pensions


    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.

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


    Submitted: 09 October 2017

    HMRC will withdraw their policy of allowing insurers to treat supplies of fund management services as VAT exempt insurance from 01 January 2018.

  • Wheels keep turning


    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


    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


    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


    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.

  • Electronic search fees do not qualify as disbursements


    Submitted: 25 September 2017

    The cost of electronic property searches does not qualify as a disbursement for VAT purposes but should be treated as part of the consideration for the supply of legal services.

  • Brexit casts further doubt on the FTT


    Submitted: 22 September 2017

    Member States are concerned over the impact of introducing an FTT on their ability to attract post-Brexit business.

  • Supreme Court excludes investment trusts’ claims


    Submitted: 10 May 2017

    Nick Skerrett and Gary Barnett’s article for Tax Journal discusses the decision of the Supreme Court to restrict the right of a consumer to recover overpaid VAT directly from HMRC.

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