The UK’s financial services businesses have been handed a boost following a recent speech from Chancellor Rishi Sunak. He has announced that from 1 January 2021, it should be possible for UK businesses to recover VAT incurred on costs that relate to specific supplies of financial and insurance services delivered to EU customers. This should result in higher amounts of VAT recovery and hence a decrease in costs for impacted businesses.
Source Crowe
Latest Posts in "United Kingdom"
- Nutella Biscuits Win VAT Exemption: Tribunal Rules Chocolate Is Filling, Not Coating
- UK Tribunal Clarifies VAT Exemption for Welsh-Regulated Private Welfare Services in Supported Living Case
- Employment Agency’s Reimbursed Medical Staff Costs Not Exempt from VAT, Tribunal Rules
- VAT Exemption for Welfare Services Applies to Both English and Welsh Operations, Tribunal Rules
- HMRC Updates VAT Deduction Rules for Overseas Insurance Intermediary Services After Tribunal Decision
