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NAPF and WCIF challenge taxing of investment management services supplied to occupational funds
HMRC are facing a legal challenge that could result in them repaying an estimated £300 million to the pension funds sector.
The National Association of Pension Funds (NAPF) and the Wheels Common Investment Fund (WCIF) have joined forces to bring action against the Revenue over the application of VAT over the past three years on investment management services supplied to occupational pension funds.
Following recent House of Lords judgments in Fleming (t/a Bodycraft) v HMRC and Conde Nast Publications Limited v HMRC, claims can also be made for the period 1990
