View the article online at http://citywire.co.uk/new-model-adviser/article/a635088
Apfa and KPMG launch VAT helpline for advisers
by Jun Merrett on Nov 16, 2012 at 12:15
The Association of Professional Financial Advisers (Apfa) and KPMG have launched a VAT helpline for the trade body's members.
KPMG experts will be on hand to advise Apfa members on issues including VAT treatment of fees and commissions, VAT accounting for 'pay aways' such as commissions and fee splits and the correct and optimal recovery of VAT.
The service will also give Apfa members access to advice on VAT changes arising from regulatory developments including the retail distribution review.
Chris Hannant (pictured), policy director at Apfa said: 'This a hugely complicated issue, which isn’t being clarified by HMRC seemingly back-tracking on earlier guidance. Advisers want clarity on which services will and won’t be subject to VAT.
'To help address these concerns, we are pleased to have partnered with KPMG who can provide expert help on these issues and wider concerns about the impact of VAT on their business.'
News sponsored by:
As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.
Today's top headlines
Alastair Mundy met Citywire's Daniel Grote at the London Stock Exchange Studios for a detailed interview about the Investec Cautious Managed fund.
More about this article:
More from us
- HMRC launches ad campaign targeting tax cheats
- HMRC shifts stance on VAT for ongoing advice
- HMRC consults on VAT treatment of DFMs
- Perspective to join rebranded Apfa and goes for chartered clean sweep