VAT – treatment of pension fund management services – a further update

Revenue and Customs Brief 3 (2017) covers changes to the VAT treatment of pension fund management services provided by regulated insurance companies which will no longer be treated as exempt but will become liable to VAT at the standard rate. 

The changes had originally been scheduled to take effect from 1 January 2018 but this has now been postponed until 1 April 2019. .

The current HMRC policy of treating pension fund management services provided by regulated insurance companies as exempt will therefore continue until 31 March 2019.

Our earlier postings of 7 October 2017  VAT- treatment of pension management services and of 7 November 2017 VAT on pension fund managements services – update explain the background to the change which is the result of a decision by the Court of Justice of the European Union.

Anonymous