The following table sets out the VAT liability of UK brokers' commission for the financial service of arranging transactions in currency. In consequence of the place of supply rules, services are outside the scope when provided to clients who belong in other EC states and who are not VAT-registered or to any clients belonging outside the EC. In some cases, services to persons in the UK or the Isle of Man or to persons not in business and belonging in other member states are zero-rated.

The numbers in brackets refer to the appropriate item in VATA 1994, Sch. 8, Grp. 7.

For supplies to persons outside the EC, the broker can reclaim underlying input VAT.

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