This month’s guide to the VAT developments that matter, by Martin Shah and Gary Barnett (Simmons & Simmons).
VAT and fund management changes
Changes to the VAT exemption for the management of special investment funds (SIFs) have finally been made and will take effect from 1 April 2020. The changes introduced in the VAT (Finance) Order SI 2020/209 expand the exemption for supplies of fund management provided to SIFs to bring it into line with EU law in two ways. Firstly the exemption will apply to the management of certain defined benefit pension funds and secondly the legislation will no longer limit exemption to only those closed-ended listed SIFs which invest wholly or mainly in securities.
Similar changes were originally legislated in the VAT (Finance) (EU Exit) Order SI 2019/43 to come into force...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
This month’s guide to the VAT developments that matter, by Martin Shah and Gary Barnett (Simmons & Simmons).
VAT and fund management changes
Changes to the VAT exemption for the management of special investment funds (SIFs) have finally been made and will take effect from 1 April 2020. The changes introduced in the VAT (Finance) Order SI 2020/209 expand the exemption for supplies of fund management provided to SIFs to bring it into line with EU law in two ways. Firstly the exemption will apply to the management of certain defined benefit pension funds and secondly the legislation will no longer limit exemption to only those closed-ended listed SIFs which invest wholly or mainly in securities.
Similar changes were originally legislated in the VAT (Finance) (EU Exit) Order SI 2019/43 to come into force...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
