- UK fund managers must comply with complex VAT regulations, especially regarding the exemption of fund management services
- Fund management services in the UK are generally exempt from VAT, but specific conditions must be met
- Fund management includes management fees, administrative services, and third-party services related to fund management
- The nature of the fund under management is crucial in applying the VAT exemption
- HMRC launched a consultation in 2023 to simplify the definition of qualifying funds for VAT exemption purposes
- UK fund managers can no longer rely on EU VAT law for their services starting from January 1, 2024
Source: haysmacintyre.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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