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You are viewing : Home » LOCAL COUNCILS UPDATE (view all editions) » 2019 Editions » July 2019

The Value Added Tax (Finance) (EU Exit) (Revocation) Order 2019 (SI 2019/1014)

This Order revokes the Value Added Tax (Finance) (EU Exit) Order 2019 (‘the Finance Order’).

The Finance Order would have extended the scope of the United Kingdom’s exemption for the management of pension funds with effect from Exit Day to reflect the scope of the exemption under European Union law. This would have ensured that UK taxpayers could continue to exempt their supplies under UK law once they were no longer able to rely on the direct effect of EU law.

The Finance Order is being revoked as a decision has been made to make these changes in another instrument which will come into force with effect from a specified date to provide certainty to business.