Fund managers will have to continue to pay VAT on outsourced fund management contracts despite a V...
Fund managers will have to continue to pay VAT on outsourced fund management contracts despite a VAT tribunal ruling, which declared the charge unfair, writes Kira Nickerson. Customs & Excise is appealing the tribunal ruling from January in its case against the Prudential, which would have seen outsourced management put on an even tax playing field with managing a fund in-house. The appeal, which will first go to the Court of Session in Edinburgh then the House of Lords and then the European Court of Justice, is expected to take up to three years, according to Autif. Lucy Shirley...
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