CJEU rules that pension fund management services do not fall within VAT exemption for insurance
In United Biscuits (Pensions Trustees) Ltd and United Biscuits Pension Investments Ltd v HMRC (Case C-235/19) (14 May 2020) the CJEU held that the term ‘insurance transactions’ within article 13(B)(a) of the Sixth Directive and its successor Directive 2006/112/EC article 135(1)(a) did not cover pension fund management.
The appellants (U) were trustees of defined benefit pension funds. They received services of pension fund management from providers some of whom were authorised to conduct insurance business and some of whom were not (but were authorised to provide pension fund management services). During the relevant period HMRC treated supplies of pension fund management as exempt but only where the supplier was authorised to conduct insurance business. U argued that the principles of equality and neutrality required such supplies to be...
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CJEU rules that pension fund management services do not fall within VAT exemption for insurance
In United Biscuits (Pensions Trustees) Ltd and United Biscuits Pension Investments Ltd v HMRC (Case C-235/19) (14 May 2020) the CJEU held that the term ‘insurance transactions’ within article 13(B)(a) of the Sixth Directive and its successor Directive 2006/112/EC article 135(1)(a) did not cover pension fund management.
The appellants (U) were trustees of defined benefit pension funds. They received services of pension fund management from providers some of whom were authorised to conduct insurance business and some of whom were not (but were authorised to provide pension fund management services). During the relevant period HMRC treated supplies of pension fund management as exempt but only where the supplier was authorised to conduct insurance business. U argued that the principles of equality and neutrality required such supplies to be...
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