The last video in our VAT for Financial Services series focuses on the VAT position of financial intermediaries.

For the third installment in our VAT for Financial Services series, Dougie Todd, Partner and Co-Head of VAT Partner, focuses on the VAT position of UK fund managers.

VAT treatment of supplies when exporting and receiving those supplies overseas is reliant on understanding the place of supply rules. Dougie Todd, Partner and Co-Head of VAT, explains the key aspects financial services businesses need to be aware of.

The globalisation of financial services necessitates a comprehensive understanding of VAT treatment on international supplies for UK-based businesses. This complexity is heightened when dealing with services to non-UK customers and costs incurred from non-UK suppliers.

For financial services businesses, understanding the VAT rules is crucial for maintaining compliance and optimising tax efficiency. This article aims to demystify the basics of VAT as it applies to financial services, guiding businesses through the complexities of VAT recovery, exemptions, and the nuanced calculations required for partial exemption and attribution of residual costs.

For financial services businesses, understanding the VAT rules is crucial for maintaining compliance and optimising tax efficiency. Dougie Todd, Partner and Co-Head of VAT, explains the basics of VAT for the Financial Services sector.

‘Target’ decision means payment businesses may not meet the conditions for VAT exemption. The Supreme Court has issued its decision in the “Target Group Ltd (‘Target’) v HMRC” VAT case, which considered whether supplies made by Target qualified for VAT exemption. The Supreme Court found in HMRC’s favour that the conditions for the exemption were […]

Many different types of intermediaries are found in the financial services sector but the VAT treatment of their services can be difficult to identify, presenting pitfalls where you act as one, or if you seek their assistance.