What VAT issues directly impact your financial services business?

Is your business engaging in new financial services activity? Is it a while since you reviewed the VAT liability of services you currently provide? Are you keeping up to date on financial services VAT related case law and legislative changes?

In an ever-changing and complex world there are an increased number of challenges for financial services organisations to overcome. For businesses operating internationally, the need to ensure compliance with tax authority requirements, correct application of VAT liability and input tax recovery can be especially problematic due to variations which exist across different territories.

How should VAT recovery be calculated across the business? How can the business ensure correct application of the relevant financial services VAT exemption(s)? Are there risks that exist within the VAT / IPT compliance process which could attract attention from the tax authorities; would automation of VAT processes help? Is there the potential to claim back VAT incurred on certain UK services / costs incurred overseas?

Whether your business’ focus is asset management, banking or insurance, we have VAT specialists on hand to help navigate you through the indirect tax issues that directly impact your financial services business.

To find out more contact Antony Brooker, PwC’s indirect tax financial services partner.

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Antony Brooker

Antony Brooker

Indirect Tax Financial Services Partner, PwC United Kingdom

Tel: +44 (0)20 7804 2188

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