For financial services businesses, understanding the VAT rules is crucial for maintaining compliance and optimising tax efficiency. Dougie Todd, Partner and Co-Head of VAT, explains the basics of VAT for the Financial Services sector.

Watch the video to understand:

• The impact of VAT on the sector
• VAT recovery
• Partial exemptions, direct attribution and residual costs

You can view the additional videos in this four-part series below:

• Making and receiving international supplies
• VAT position of UK fund managers
• VAT position of financial intermediaries

For further advice and assistance with your VAT obligations, contact Dougie Todd.