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VAT & the City

VAT & the City Banking, Finance and Insurance, 7th Edition

Author: Julian Hickey
Publisher: Wolters Kluwer U.K. (formerly CCH)
ISBN: 9781847984388
Published In: December 2012
Format: Paperback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Now in its 7th edition, VAT & The City provides essential expert guidance into how VAT affects transactions in the financial sector including banking, finance, securities, investment, insurance and commodities and help on approaching the handling of VAT affairs.

The title is aimed at anyone who advises client on VAT in these sectors as well as appealing to companies operating within these sectors themselves. Since the last edition, much has happened in VAT and financial services and this new edition will ensure the latest information is provided in a practical way. The book is also packed with sound tax planning advice, with full reference to HMRC practice and the evolving domestic and European case law.

Key changes since the last edition:
This edtion has been updated by Julian Hickey, Partner at Bird & Bird LLP, with contributions from David Southern, Barrister at Temple Tax Chambers.
- The introduction of the VAT Package on 1 January 2010, particularly in relation to the change of the place of supply of services
- EU Council Implementing Regulation No 282/2011, which has direct effect in Member States of the EU, and is designed to create consitent rules across the EU on implementation of VAT Directive 2006/112/EC
- Details of the EU's progress on implementing reforms to the exemption of insurance and financial services
- The VAT treatment of certain services following the FSA's Retail Distribution Review, which takes effect on 1 January 2013
- Changes to capital goods scheme
- Case law developments: such as A1 Lofts Ltd v HMRC, Secret Hotels2 Ltd v Revenue and Customs Commissioners, Skatteverket v AB SKF, The Rank Group, 1st Contract Limited, Airtours Holidays Transport Ltd, Skipton Building Society, London Clubs Management Limited, Royal Bank of Scotland Group plc, Volkswagen Financial Services Limited, BAA Limited, Axa UK plc, HBOS plc, GFKL Financial Services AG, ECU Group plc, CGI Group (Europe) Ltd, Christel Schriever, Everything Everywhere Ltd (formerly T-Mobile UK), Proceedings brought by Nordea Pankki Suomi Oyj, Insurancewide.com, Smart Voucher Ltd, David Baxendale Ltd, Purple Parking Ltd, Airparks Services Ltd
- Second VAT Invoicing Directive (2010/45/EU)
- Finance Bill 2012 developments, such as VAT registration of non-established persons and cost sharing groups
- Updates to HMRC Notices and HMRC Finance VAT manual
- New chapters on VAT treatment of Mergers & Acquisitions and VAT on Banking and Electronic Services
- Additional appendices - Guidance on cost sharing, Second VAT Invoicing Directive with explanatory notes
Topics include:
- Outputs and output VAT
- Input VAT and partial exemption
- Services from abroad - The Reverse Charge
- Groups and connected parties
- Banks and financial institutions
- Securities and investment
- Insurance
- Commodities
- Planning
- Introduction
- Registration
- Outputs and Output VAT
- Input VAT and Partial Exemption
- Services from Abroad – The Reverse Charge
- Groups and Connected Parties
- Banks and Financial Institutions
- Securities and Investment
- Insurance
- Commodities
- Planning
- Appendices
- Indexes.
Julian Hickey is a Partner at Bird & Bird LLP, and is a member of the firm's international tax group. Julian advises corporate clients on direct tax and VAT matters. In recent years his practice has focused on providing VAT advisory services to a range of clients (often with a cross-border element). He has broad experience advising on structured finance transactions (involving a range of asset classes), fund structuring, banking and finance. Julian also has experience in tax dispute resolution work, as a Solicitor-Advocate. He has a Ph.D in tax, and is a contributor to a number of tax publications.