The Upper Tribunal (UT) dismissed an appeal by SIPP administrator Intelligent Money Limited (IML), who claimed the VAT exemption for insurance transactions applied to the fees it charged to members of its SIPP. The UT applied the criteria for an insurance transaction established by the CJEU case law and agreed with the First Tier Tribunal (FTT) that IML’s services were not VAT-exempt.
Source: www.macfarlanes.com
