HMRC excludes transactional discretionary fees from VAT

“HMRC has confirmed that transactional fees for discretionary management services will not need to include VAT, following last year’s landmark European Court of Justice judgment.

The case involved Deutsche Bank’s discretionary services and whether VAT should be charged for ongoing services and on annual management fees.”

There is still a lot of detail to be decided here. This is one to keep your eye on!

http://www.moneymarketing.co.uk/hmrc-excludes-transactional-discretionary-fees-from-vat/1073320.article

Eamon McNicholas
Tax Barrister, Accountant
http://www.EamonMcNicholas.com

About Eamon McNicholas

Tax Barrister, Accountant www.EamonMcNicholas.com
This entry was posted in Tax and Accounting News and tagged , , , , . Bookmark the permalink.

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