Lee Squires and Fiona Bantock review the recent developments in VAT that matter, including decisions affecting transfers of a going concern and financial intermediary services.
Financial intermediary services: Bloomsbury Wealth ManagementIn Bloomsbury Wealth Management v HMRC [2012] UKFTT 379 (TC) Bloomsbury was an IFA providing services in relation to financial investments. Potential clients had an initial meeting with Bloomsbury at which high-level advice on asset allocation types of assets and choice of fund managers was provided. If the client decided to proceed then Bloomsbury would instruct a third party nominee to purchase and hold units...
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