The Upper Tribunal (UT) dismissed an appeal by SIPP administrator Intelligent Money Limited (IML), who claimed the VAT exemption for insurance transactions applied to the fees it charged to members of its SIPP. The UT applied the criteria for an insurance transaction established by the CJEU case law and agreed with the First Tier Tribunal (FTT) that IML’s services were not VAT-exempt.
Source: www.macfarlanes.com
Latest Posts in "United Kingdom"
- UK VAT Threshold Debate: Growth-Boosting Increase or Revenue-Raising Decrease at Autumn Budget?
- Chancellor Proposes Raising VAT Registration Threshold to £100,000 to Boost UK Economy
- ICS2 Implementation for Northern Ireland: Transition Details and Support for Carriers by HMRC
- FTT Rules Ferrero’s Nutella Biscuits Not Partly Chocolate-Covered, Zero-Rated for VAT
- HMRC Wins Upper Tribunal Case Against Mini Umbrella Company Fraud, Tightens Compliance Rules
