- HMRC confirmed that VAT and excise policy remains unchanged after the coming into force of the Retained EU Law (Revocation and Reform) Act 2023
- Taxpayers can no longer rely on direct effect of EU VAT Directives
- CCLA Investment Management Ltd v HMRC [2024] UKFTT 636 ruled that certain charitable funds can qualify for VAT exempt supplies of investment management
- The decision provides guidance on determining if a fund not a UCITS meets equivalence conditions for State supervision and appeal to retail investors
- The decision is important for pre-Brexit supplies but may not have continuing relevance after 1 January 2025 due to changes in legislation.
Source: simmons-simmons.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
