½Û×ÓÊÓƵ

Place of supply in the financial services sector

It will often be important to determine the place of supply of a transaction in the financial services sector. The place of supply remains an important consideration even that supply would be exempt from VAT if it took place in the UK due to the potential impact on VAT recovery (for VAT recovery considerations for financial services sector, see V6.126). The place of supply of a number of types of services connected with the sector is considered below.

Place of supply of financial services

The supply of financial services will normally fall within the general rule for the place of supply of services. The general rule is described at V3.183.

The major exception to the general rule for financial services is found in VATA 1994, Sch 4A, para 16 which applies to 'banking, financial and insurance services (including reinsurance), other than the provision of safe deposit facilities' supplied to persons other than relevant business persons who belong outside the