- UK investment firm Intelligent Money Limited has failed to reclaim VAT from the tax office in court.
- The high court Upper Tribunal upheld the lower court’s decision that the company’s services did not fall within the scope of an insurance exemption in the Value Added Tax Act 1994.
- The company argued that the lower court erred in interpreting the law based on CJEU cases that determined the scope of the exemption.
- Intelligent Money Limited contended that its personal pensions met the criteria for an insurance contract, including the premium.
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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