Suppliers of financial services to EU customers will be able to recover VAT on their costs next year. The financial services sector is an integral and successful part of the UK economy. Under current legislation financial service providers are not able to recover the VAT paid on costs attributable to supplies in the UK or to EU customers, which therefore becomes a cost to the business; whereas that same VAT is recoverable if it is attributable to supplies made to customers outside the EU.
Source WrightHassel
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