VAT and Financial Services

Second Edition

By Mark Chesham

This second edition of VAT and Financial Services takes the reader through the relevant UK legislation and case law, the legal concepts (such as time and place of supply), the distinction between goods and services, what is taxable, and the interaction of these elements. Further, the book examines the consequences of outsourcing (through a detailed study of 10 significant cases), looks at the key issues facing UK financial services and insurance, and then discusses the VAT cost sharing exemption. Since the publication of first edition, there have been significant developments in the area of UK pensions management and whether or not an employer can recover VAT charged on investment management fees incurred in respect of pension schemes. Also, issues around the scope of VAT exemption for payment services (cash handling, cash collection, debt collection, etc.) have changed. The book includes a section on the new and developing area of 'crypto currencies' (e.g. Bitcoin). Appendices include contracts of insurance, Lloyd's VAT arrangements, HMRC ABI partial exemption guidance for the insurance sector, TOGC legal extracts, guidance on the cost sharing exemption, and the VAT territory of the EU. *** Librarians: ebook available on ProQuest and EBSCO [Subject: Tax Law, Finance Law]


Publication Date: 8/24/2015
Format: Paper
ISBN: 9781904905738