VAT and Financial Services
This book is designed for finance directors and finance controllers in the UK's financial services and insurance sectors, as well as for those who advise these sectors. It assumes a reasonable working knowledge of value added tax (VAT.) VAT and Financial Services takes the reader through the relevant UK legislation and case law, examining: the legal concepts, such as time and place of supply, the distinction between goods and services, what is taxable, and the interaction of these elements * the consequences of outsourcing (through a detailed study of ten significant cases) * the key issues facing financial services and insurance * the VAT cost sharing exemption. The book also includes appendices that cover: contracts of insurance * Lloyd's VAT arrangements * Her Majesty's Revenue and Customs and Association of British Insurers partial exemption guidance for the insurance sector * "Transfer of a Business as a Going Concern" legal extracts * guidance on the cost sharing exemption * the VAT territory of the EU.
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