VAT Update: Redefining ARs as the principal

clock

Since the story broke earlier this week of a potential change in the VAT treatment of networks and Appointed Representatives, there has been a lot of confusion as to what the issues really are, who the VAT is being imposed on, and why.

Initial discussion between networks and individuals who have not seen the ruling made by HM Customs & Excise (C&E) on Whitechurch Network have led some industry officials and networks to believe the matter is simply about when VAT should be added to consumer’s bill for financial advice. In reality, this potential change in VAT treatment is actually about the changing status and function of networks and C&E’s attempt to justify their redefinition of Appointed Representatives (ARs). Industry sources are concerned the ruling – which suggests all network members will have to pay VAT on th...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Feel Good Friday: SJP Foundation raises more than £8m

Feel Good Friday: SJP Foundation raises more than £8m

Has directly supported 981 charities

Professional Adviser
clock 08 August 2025 • 1 min read
Advisers can help cut through the noise for overwhelmed clients

Advisers can help cut through the noise for overwhelmed clients

'In an era marked by information overload, advisers transform uncertainty into clarity'

Ahmed Bawa
clock 07 August 2025 • 4 min read
Native capture: Why it's non-negotiable for modern compliance teams

Native capture: Why it's non-negotiable for modern compliance teams

‘Regulatory reviews require not just the message, but the full story’

David Clee
clock 07 August 2025 • 4 min read