This month’s review covers a number of developments affecting the VAT exemption for the management of SIFs, including long-awaited changes to bring the UK rules into line with EU law, as well as the announcement of a more general review of the application of VAT to financial services after the transition period. The CJEU decision in San Domenico Vetraria SpA is potentially important for the VAT treatment of secondments. Meanwhile, the UK is consulting on bringing in requirements for large businesses to report to HMRC any uncertain tax positions they take, which would cover VAT as well as other taxes, and has announced it will introduce postponed accounting for VAT for all imports of goods following the end of the transition period.
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This month’s review covers a number of developments affecting the VAT exemption for the management of SIFs, including long-awaited changes to bring the UK rules into line with EU law, as well as the announcement of a more general review of the application of VAT to financial services after the transition period. The CJEU decision in San Domenico Vetraria SpA is potentially important for the VAT treatment of secondments. Meanwhile, the UK is consulting on bringing in requirements for large businesses to report to HMRC any uncertain tax positions they take, which would cover VAT as well as other taxes, and has announced it will introduce postponed accounting for VAT for all imports of goods following the end of the transition period.
If you are not a subscriber, subscribe now to read this content.
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