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Debt collection services are subject to VAT

January 31, 2011

HMRC have changed their view on what should be defined as ‘debt collection services’ following the judgement in the case AXA UK plc (case ref C-175/09).
Debt collection services are subject to standard rate VAT, although other financial services are generally exempt from VAT. If you need help in working out how this new VAT rule applies to your business do ask one of our VAT experts.

Revenue & Customs Brief on AXA UK Plc


http://www.hmrc.gov.uk/briefs/vat/brief5410.htm

 

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