Gibraltar Stock Broker News 'HMRC rethink on VAT liability for advisers'
http://www.moneymarketing.co.uk/1037811.article?
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An HMRC spokesman says: “The VAT liability of the process is governed by the intention. If the intention of the agreement between the customer and the adviser is to enter a process leading to the arrangement of an exempt transaction, this is VAT-exempt intermediation. If this is not the intention, then the supply would be advice and therefore taxable.”
HMRC is due to publish draft guidance on VAT next month....'
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