Other Citywire websites
Stay connected:

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

Apfa and KPMG launch VAT helpline for advisers

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.

The launch follows the confusion surrounding VAT treatment of advisory services when in October the HMRC appeared to reverse its earlier view that ongoing advice services should be subject to VAT.

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.'

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Opportunities emerge as production moves back home


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

A spotlight on Alastair Mundy


Alastair Mundy met Citywire's Daniel Grote at the London Stock Exchange Studios for a detailed interview about the Investec Cautious Managed fund.


Read more...

Acquisition frenzy! The 10 biggest buys of the month

by Jun Merrett on Jul 29, 2014 at 13:52

Sorry, this link is not
quite ready yet