DB schemes dealt £2bn blow as ECJ rules against funds in Wheels VAT case

clock

The National Association of Pension Funds and Wheels Common Investment Fund have lost their bid to recoup £2bn in backdated VAT on investment management services for defined benefit schemes.

NAPF and WCIF brought a test case to the European Court of Justice in regards to WCIF's Ford pension schemes, claiming that pension funds should be granted the same VAT exemption as special investm...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions member?

Login

More on Industry

Professional Pensions Monthly Digest: June 2022

Professional Pensions Monthly Digest: June 2022

Our monthly round-up of the most important articles PP has published over the last month

Hope William-Smith
clock 06 July 2022 • 5 min read
Updated: Key dates for the pension industry

Updated: Key dates for the pension industry

Here are all the key dates upcoming in the pensions industry

Martin Richmond
clock 06 July 2022 • 2 min read
Former chancellor Rishi Sunak

Nadhim Zahawi named chancellor after Sunak resigns

Calls for Zahawi not to let pensions fall by the wayside

Hope William-Smith
clock 06 July 2022 • 3 min read
Trustpilot