VAT treatment of fund management: consultation

Following a Budget 2020 announcement, the government examined options for reforming the VAT treatment of fund management services. The technical consultation document sets out proposals for reform of the VAT rules on fund management. These reforms are not intended to result in policy change but are intended to improve the legislative basis of the VAT treatment of fund management. The consultation seeks input on whether the proposed changes achieve the objective of codifying the existing policy to give legal clarity and certainty.