The following Value Added Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
This guidance note provides an overview of the VAT treatment of investment fund management services.
Management of investments and portfolios, funds, wrapper products and related services
2006/112/EC Opens in a new window, Article 135 (1)(g); VATA 1994, Sch 9, Part II, Group 5, Items 9–10, note 6; SI 2008/2547; SI 2020/209; VATFIN5000; VAT Notice 701/49: finance Opens in a new window; De Voil Indirect Tax Service V4.136, V4.136A–V4.136J;
The management of special investment funds is exempt from VAT. The UK exempts the following types of special investment funds:
The above provisions do not cover a collective investment scheme, or sub-fund, that is not for the time being marketed in the UK if it has never been marketed in the UK or less than 5% of its shares or units are held by, or on behalf of, investors
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