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 Considers VAT Cut on Domestic Fuel: Targeted Relief or Broad Measure?
- Supreme Court Clarifies VAT Grouping and Time of Supply Rules in Prudential Assurance Case
- Guernsey Seeks Companies to Support New GST Administration, Tender Deadline Approaches
- Navigating UK VAT: Key Considerations and Pitfalls in Exporting Goods
- HMRC’s New VAT Error Correction Rules: Stricter Penalties and Reporting Changes Explained