RCB/11/13 VAT—modified treatment for certain portfolio management fees following a European Court rulingRevenue & Customs Brief, Issue 11. June 2013Purpose of this BriefThis Brief modifies the current VAT treatment of certain supplies made by portfolio investment managers. This modification is needed to bring the current treatment into line with the European Court judgment in the case of Deutsche Bank (C-44/11).Services supplied to employers or Trustees in respect of occupational pension schemes held through trusts are not covered by this Brief.Who needs to read this?Businesses providing portfolio investment management services.Financial advisors.Businesses and other organisations, such as charities, that receive investment
Revenue & Customs Brief, Issue 11. June 2013
This Brief modifies the current VAT treatment of certain supplies made by portfolio investment managers. This modification is needed to bring the current treatment into line with the European Court judgment in the case of Deutsche Bank (C-44/11).
Services supplied to employers or Trustees in respect of occupational pension schemes held through trusts are not covered by this Brief.
Businesses providing portfolio investment management services.
Financial advisors.
Businesses and other organisations, such as charities, that receive investment
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