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Personal Finance Society
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Paper No. 5 - VAT and Adviser Charging

The Retail Distribution Review required that from 31st December 2012 all advisers must adopt 'Adviser Charging'.

This means that advisers can no longer be paid by commission, through a product charge, by a product provider.

This paper aims to clarify the VAT implications that financial advisers should be aware of. Following further consultation with HMRC this paper is an update to the original guidance dated September 2012.

It sets out some of the different scenarios that may occur within the financial advice process and looks to provide clarity on the associated VAT position in relation to the adviser charge.

Download the full paper here »