VAT on investment management services - update

Posted on November 2, 2007 by Jane Stacey

My colleague Roger Bell reported in July this year on an important European Court of Justice (ECJ) case involving the VAT treatment of fund management services.

The Times and the Association of Investment Companies today report that HMRC has withdrawn its appeal in the case of JP Morgan Claverhouse Investment Trust plc/Association of Investment Trust Companies v HMRC.

The ECJ ruled in favour of the appellants in June but the matter was to be referred back to the VAT tribunal for determination. However, HMRC has decided to accept the ECJ decision and is expected to shortly make an announcement confirming its position.

As we reported previously, other types of funds (e.g. pension funds) have submitted VAT refund claims pending the final outcome of this decision. HMRC’s last Business Brief 58/07 stated that HMRC did not believe the decision could extend to the management of other types of funds. This remains to be seen but there is likely to be further litigation involved, so watch this space…
Tags: , , , , , ,
Trackbacks (1) Links to blogs that reference this article Trackback URL
http://taxplus.mercerhole.co.uk/admin/trackback/50548
Investing Resources - August 22, 2008 11:08 PM
Of course, the third resource I use to get investment data for analysis is from other freely available websites. I would actually prefer to use these free resources, however the fact that not one website contains all the data I need makes it difficult....
subscribe Subscribe to comments
Comments (0) Read through and enter the discussion with the form at the end
Post A Comment / Question Use this form to add a comment to this entry.







Remember personal info?
Send To A Friend Use this form to send this entry to a friend via email.