The Value Added Tax (Finance) (EU Exit) (Revocation) Order, SI 2019/1014, revokes SI 2019/43, which was to have extended the scope of the UK’s VAT fund management exemption in relation to pension funds with effect from Exit day, to bring it into line with EU law.
The government’s intention is to give the industry more time to prepare by introducing the same changes in a new order, but with a definite commencement date of 1 April 2020. This revocation order comes into force on 8 July 2019.
The Value Added Tax (Finance) (EU Exit) (Revocation) Order, SI 2019/1014, revokes SI 2019/43, which was to have extended the scope of the UK’s VAT fund management exemption in relation to pension funds with effect from Exit day, to bring it into line with EU law.
The government’s intention is to give the industry more time to prepare by introducing the same changes in a new order, but with a definite commencement date of 1 April 2020. This revocation order comes into force on 8 July 2019.
