Commentary

V16.402 VAT—Specified supplies anti-avoidance amendment

Part V16 Forms and other HMRC material

V16.402 VAT—Specified supplies anti-avoidance amendment

2018 Budget Announcements

V16.402 VAT—Specified supplies anti-avoidance amendment

Who is likely to be affected?

This measure will affect those providers of intermediary services to the insurance sector who export their services outside of the EU.

General description of the measure

This measure amends article 3 of the Value Added Tax (Input Tax) (Specified Supplies) Order 1999 to restrict its application in certain circumstances in order to prevent avoidance.

The specified supplies order allows companies who export certain financial services from the European Union to reclaim the VAT they incur while providing those services. When these services are supplied inside the EU, this VAT cannot be

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