Agency and services of intermediary

Exemption

Commentary – VAT Reporter ¶40-200(1)
HMRC Guidance – Notice 718

Outside scope/exemption with right of recovery/zero-rating

Commentary – VAT Reporter ¶40-100(3) ; VAT Reporter ¶40-150(3)
HMRC Guidance – Notice 741a

Arbitration services

Commentary – VAT Reporter ¶40-200(2)
HMRC Guidance – Notice 718

Automated telling machines (ATMs)

Commentary – VAT Reporter ¶22-975 ; VAT Reporter ¶40-200(3)
HMRC Guidance – Notice 718

Bank accounts, access orders

Commentary – VAT Reporter ¶59-510

Bank notes

Commentary – VAT Reporter ¶40-200(4) ; VAT Reporter ¶40-200(9)
HMRC Guidance – Notice 718

Bank notes, payments received for issue through ATMs to customers of other banks

Case Law – Royal Bank of Scotland Group plc. [2001] BVC 2,275 ; Royal Bank of Scotland plc v Customs and Excise Commissioners. [2002] BVC 389

Banks generally

Generally

Commentary – VAT Reporter ¶40-250

Partial exemption

Commentary – VAT Reporter ¶40-250(1)

Bills of exchange and notes or orders for payment of money

Commentary – VAT Reporter ¶40-200(5)
HMRC Guidance – Notice 718

Block discounting

Commentary – VAT Reporter ¶40-200(6)
HMRC Guidance – Notice 718

Carriage of money from one branch to another

Case Law – Customs and Excise Commissioners v. Blackpool Pleasure Beach Company. (1974) 1 BVC 1,021

Cash collection and checking and change services

Commentary – VAT Reporter ¶40-200(7)
HMRC Guidance – Notice 718

Cash-point machine replenishment

Commentary – VAT Reporter ¶40-200(8)
HMRC Guidance – Notice 718

Clearing and settlement

Commentary – VAT Reporter ¶40-200(8)
HMRC Guidance – Notice 718

Coins

Commentary – VAT Reporter ¶40-200(9)
HMRC Guidance – Notice 718

Confirming houses

Commentary – VAT Reporter ¶40-200(10)
HMRC Guidance – Notice 718

Consortium for syndicated loans

Commentary – VAT Reporter ¶40-200(11)
HMRC Guidance – Notice 718

Credit and charge card companies

– see Credit and charge card companies

Credit card bank, securitisation and assignment of receivables

Case Law – Capital One Bank (Europe) plc. [2006] BVC 2,148 ; MBNA Europe Bank Ltd v Revenue and Customs Commissioners. [2007] BVC 3 ; MBNA Europe Bank Ltd. [2006] BVC 2,395

Credit management

Commentary – VAT Reporter ¶40-200(13)
HMRC Guidance – Notice 718

Current accounts

Commentary – VAT Reporter ¶40-200(14)
HMRC Guidance – Notice 718

Debt (re)negotiation services

Commentary – VAT Reporter ¶40-200(16)
HMRC Guidance – Notice 718

Debt collection and factoring

Commentary – VAT Reporter ¶40-200(15)
HMRC Guidance – Notice 718

Debt sales

Commentary – VAT Reporter ¶40-200(17)
HMRC Guidance – Notice 718

Deferred payments

Commentary – VAT Reporter ¶40-200(18)
HMRC Guidance – Notice 718

Deposits, loans and overdrafts

Commentary – VAT Reporter ¶40-200(19)
HMRC Guidance – Notice 718

E-banking

– see Electronic banking, finance and insurance services

Equipment leasing and rental

– see Equipment leasing and rental

Face-value vouchers

Commentary – VAT Reporter ¶40-200(20)
HMRC Guidance – Notice 718

Factoring of debts

Finance

Commentary – VAT Reporter ¶40-450(1)
HMRC Guidance – Notice 700/57

Generally

Commentary – VAT Reporter ¶40-450
HMRC Guidance – Notice 700/57

Partial exemption

Commentary – VAT Reporter ¶40-450(3)
HMRC Guidance – Notice 700/57

Risk control and other services

Commentary – VAT Reporter ¶40-450(2)
HMRC Guidance – Notice 700/57

Finance houses

Generally

Commentary – VAT Reporter ¶40-350

Partial exemption

Commentary – VAT Reporter ¶40-350(1)

Sale of repossessed goods

Commentary – VAT Reporter ¶40-350(2)

Financial guarantees and bonds

Commentary – VAT Reporter ¶40-200(21)
HMRC Guidance – Notice 718

Foreign exchange

Commentary – VAT Reporter ¶40-200(22)
HMRC Guidance – Notice 718

Forfaiting

Commentary – VAT Reporter ¶40-200(23)
HMRC Guidance – Notice 718

Forward rate agreements

Commentary – VAT Reporter ¶40-200(24)
HMRC Guidance – Notice 718

Generally

Commentary – VAT Reporter ¶40-005

Imported services

Commentary – VAT Reporter ¶40-200(24)
HMRC Guidance – Notice 718

Instalment credit finance and credit provided free

Commentary – VAT Reporter ¶40-200(26)
HMRC Guidance – Notice 718

Interest rate and currency rate swaps

Commentary – VAT Reporter ¶40-200(29)
HMRC Guidance – Notice 718

Interest-free finance

Commentary – VAT Reporter ¶40-200(27)
HMRC Guidance – Notice 718

Islamic finance

Commentary – VAT Reporter ¶40-200(30)
HMRC Guidance – Notice 718

Monetary financial services

Exemption

Commentary – VAT Reporter ¶40-100(1)

Outside scope/exemption with right of recovery/zero-rating

Commentary – VAT Reporter ¶40-100(3)

Relevant legislation

Commentary – VAT Reporter ¶40-100(1)

Standard-rating

Commentary – VAT Reporter ¶40-100(2)

VAT liability generally

Commentary – VAT Reporter ¶40-050

VAT treatment

Commentary – VAT Reporter ¶40-090(1)

Money brokerage

Commentary – VAT Reporter ¶40-200(31)
HMRC Guidance – Notice 718

Non-monetary financial services

Exemption

Commentary – VAT Reporter ¶40-150(2)
HMRC Guidance – Notice 741a

Outside scope/exemption with right of recovery/zero-rating

Commentary – VAT Reporter ¶40-150(3)
HMRC Guidance – Notice 741a

Standard-rating

Commentary – VAT Reporter ¶40-150(1)
HMRC Guidance – Notice 741a

VAT liability generally

Commentary – VAT Reporter ¶40-050

VAT treatment

Commentary – VAT Reporter ¶40-090(2)

Non-resident banks, interest payments

Case Law – EC Commission v Belgium (Case C-383/10). [2013] BVC 218

Outsourcing

– see Outsourcing

Pawnbroking

Commentary – VAT Reporter ¶40-200(32)
HMRC Guidance – Notice 718

Pension fund management

Commentary – VAT Reporter ¶40-200(33)
HMRC Guidance – Notice 718

Production of special cheques and credit slip forms

Case Law – National Westminster Bank plc. [2003] BVC 2,003

Search agencies

Commentary – VAT Reporter ¶40-200(34)
HMRC Guidance – Notice 718

Secured loans and securities for money

Commentary – VAT Reporter ¶40-200(35)
HMRC Guidance – Notice 718

Securities dealing

Commentary – VAT Reporter ¶40-200(36)
HMRC Guidance – Notice 718

Securitisation

Commentary – VAT Reporter ¶40-200(37)
HMRC Guidance – Notice 718

Sterling commercial paper and Euronotes

Commentary – VAT Reporter ¶40-200(38)
HMRC Guidance – Notice 718

Supply of services within same legal entity and liability of transactions

Case Law – Ministero dell'Economia e delle Finanze, Agenzia delle Entrate v FCE Bank plc (Case C-210/04). [2009] BVC 692

Third party support services

Case Law – Barclays Bank plc. (1988) 3 BVC 692

Travellers cheques

Commentary – VAT Reporter ¶40-200(39)
HMRC Guidance – Notice 718

VAT liability generally

Commentary – VAT Reporter ¶40-050