- HMRC changes policy on VAT deduction for pension fund management
- Investment costs no longer considered dual use
- All input tax incurred is deductible by the employer under normal rules
- Trustees providing management services can deduct input tax if VAT-registered
- Deductions by trustees follow normal deduction rules
- Previous policy allowed recovery of input tax on administration costs only, not on asset management costs
Source: taxjournal.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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