Intermediary website services to IFAs were VAT exempt
In Performance Leads Ltd v HMRC[2025] UKFTT 660 TC (5 June) the FTT found in favour of the taxpayer that supplies of ‘lead generation’ services to IFAs were exempt from UK VAT as the services of a financial intermediary (under VATA 1994 Sch 9 Group 5 item 5) rather than standard rated advertising services.
The appellant ran two websites where members of the public could express an interest in receiving financial advice. People who so registered were put in touch with people on a list of approved advisers. There was no contact between the customer and the taxpayer company; it received a commission from the insurance adviser.
The appellant initially accounted for VAT on its supplies but then submitted a claim to HMRC for overpaid VAT on the basis its supplies fell within VATA 1994 Sch 9 Group 5...
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Intermediary website services to IFAs were VAT exempt
In Performance Leads Ltd v HMRC[2025] UKFTT 660 TC (5 June) the FTT found in favour of the taxpayer that supplies of ‘lead generation’ services to IFAs were exempt from UK VAT as the services of a financial intermediary (under VATA 1994 Sch 9 Group 5 item 5) rather than standard rated advertising services.
The appellant ran two websites where members of the public could express an interest in receiving financial advice. People who so registered were put in touch with people on a list of approved advisers. There was no contact between the customer and the taxpayer company; it received a commission from the insurance adviser.
The appellant initially accounted for VAT on its supplies but then submitted a claim to HMRC for overpaid VAT on the basis its supplies fell within VATA 1994 Sch 9 Group 5...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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