In common with other economically or socially important areas, finance and insurance have special relief for VAT – if relief is the right word. This arises both under Directive 2006/112 and under UK law. Some services, e.g. equipment leasing, tend to be standard-rated. However, usually activities under this heading are VAT-exempt. This means no VAT is charged, but generally at the cost of not recovering underlying input VAT. The VAT cost to the consumer is reduced, but not eliminated altogether.