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Significant changes to the VAT landscape for asset managers may be on the horizon.

• HMRC has commenced a review of the VAT treatment of fund management fees;
• a Treasury call for evidence on VAT-grouping that was published in August 2020 suggests that the government may be re-thinking how VAT should apply in the context of asset management more generally;
• the European Commission is conducting a far-reaching review of the VAT treatment of financial services, including asset management, which will no doubt be watched closely by HMRC; and
• VAT features in the ongoing asset holdco consultation and the Government’s drive to encourage the holding of assets in the UK.

Brexit-related changes to the VAT treatment of financial transactions with EU counterparties will already be having an effect on some asset managers.

This session will provide attendees with an opportunity to hear from members of Macfarlanes’ VAT team on the key developments to track in 2021 and steps that can be taken to mitigate risk arising from potential future changes. Attendees will also have the opportunity to ask Macfarlanes questions and to discuss this topic with other attendees.

Speaker:

Chris Mortimer, Head of VAT, Macfarlanes 

Please note this session is open to fund managers only. 

AIMA Fund Manager Briefing - Upcoming VAT Developments Powerpoint.pdf

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