FUND-MANAGEMENT

The UT decision in University of Cambridge was a welcome one for partially exempt bodies with similar types of investment funds that derive income or capital for their overall economic benefit, report Nicholas Gardner and Shayaan Zaraq Bari (Ashurst).

HMRC has published guidance on the use of tripartite arrangements for employers, pension scheme trustees and providers of pension fund management services in respect of defined benefit schemes. Giles Salmond (Eversheds) reports

Stephen Pevsner and Laura Charkin (King & Wood Mallesons) consider the new rules for fund managers

In this month’s briefing, Lee Squires and Fiona Bantock (Hogan Lovells) cover the latest on pension fund management costs; the Budget announcement on partially exempt businesses with foreign branches; VAT on e-books; and the decision in Colaingrove.

Laura Charkin and Stephen Pevsner (King & Wood Mallesons) review the rules in the draft Finance Bill 2015

Lee Squires and Fiona Bantock (Hogan Lovells) examine two recent cases, as well as recent HMRC briefings and the MOSS.

Commentary prepared by the Tolley tax team on the draft Finance Bill 2015 rules on:

• special purpose share schemes, with comment from Ashley Greenbank (Macfarlanes);
• diverted profits tax, with comment from Sandy Bhogal (Mayer Brown);
• investment managers and disguised fee income, with comment from Ben Eaton (Goodwin Procter);
• bank loss relief, with comment from Anna Anthony (EY).

William Watson recaps developments over the past year regarding the ability to recover VAT on services supplied in connection with the management of defined benefit pension schemes, in light of the PPG case.