This month’s VAT review covers the important and somewhat concerning AG opinion in O. Fundusz lnwestycyjny Zamknięty reprezentowany przez O. raising the possibility that a sub-participant under a loan sub-participation arrangement may be making a taxable supply of services to the loan originator. In addition there are two FTT decisions of note. In Intelligent Money Ltd the FTT has held that fees paid to a SIPP administrator are not consideration for an exempt supply of insurance for VAT purposes despite its domestic treatment as life insurance. In WTGIL the FTT has held that an insurance intermediary did not make a separate taxable supply of goods in the form of a monitor fitted into insured cars such that it could not recover associated input VAT. Finally the financial secretary to the Treasury is reported as having indicated that a carbon border adjustment...
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This month’s VAT review covers the important and somewhat concerning AG opinion in O. Fundusz lnwestycyjny Zamknięty reprezentowany przez O. raising the possibility that a sub-participant under a loan sub-participation arrangement may be making a taxable supply of services to the loan originator. In addition there are two FTT decisions of note. In Intelligent Money Ltd the FTT has held that fees paid to a SIPP administrator are not consideration for an exempt supply of insurance for VAT purposes despite its domestic treatment as life insurance. In WTGIL the FTT has held that an insurance intermediary did not make a separate taxable supply of goods in the form of a monitor fitted into insured cars such that it could not recover associated input VAT. Finally the financial secretary to the Treasury is reported as having indicated that a carbon border adjustment...
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