In Riskstop Consulting, the FTT held that a business making supplies of risk evaluation services to insurers was not acting as an insurance agent and that its supplies were not, therefore, VAT exempt. HMRC has published further guidance on the deduction of VAT on defined benefit pension fund management costs in Revenue & Customs Brief 17/15. In Hedqvist, the CJEU has held that the virtual currency bitcoin should receive the same VAT treatment as transactions in traditional currencies. The European Commission has published a public consultation to help identify ways to simplify VAT payments on cross-border e-commerce transactions in the EU.
