- The government published a consultation on the VAT treatment of fund management services in December 2022.
- The consultation was part of a broader tax and regulatory review of the UK’s funds regime.
- The government has now published a summary of responses to the consultation.
- The government will retain the current list of fund types to which the fund management exemption applies.
- Respondents suggested defining the term ‘management’ for greater clarity, but the government believes the current position provides sufficient legal certainty.
- The government will work on providing clarity to the existing legal position, without widening the definition.
Source: taxscape.deloitte.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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