Commentary

V4.136J Exemption for finance—issues arising from the exemption of financial services

Part V4 Exemption, zero-rating and reduced rates

V4.136J Exemption for finance—issues arising from the exemption of financial services

V4.136J Exemption for finance—issues arising from the exemption of financial services

Place of supply

Financial services other than intermediary services

The place of supply of services (other than intermediary services) falling within VATA 1994, Sch 9, Group 5 is as follows1:

  1.  

    •     where the person to whom the services are supplied is a 'relevant business person' (see V3.183), the place where the recipient belongs

  2.  

    •     where the person to whom the services are supplied is not a relevant business person, where the supplier belongs

However, in the case of the sale of securities, a supplier who belongs in the UK and cannot

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