The National Association of Pension Funds and Wheels Common Investment Fund's action against HM Revenue and Customs over VAT paid on investment management charges has been settled after five years of hearings in UK and European courts.
The NAPF and Wheels argued DB schemes should be exempt from VAT for investment services, based on the 2008 JP Morgan Fleming Claverhouse Investment Trust court decision that ruled investment trusts...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
