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Where Taxpayers and Advisers Meet

VAT recovery on bank charges ?

dunkstar
Posts:3
Joined:Wed Aug 06, 2008 3:15 pm

Postby dunkstar » Wed Nov 17, 2004 7:47 am

My company has recently been incurring various bank charges e.g annual credit card subsciption, international transfer fees and interest. I don't seem to be able to dtermine whether these charges have VAT included in them and whether we are able to reclaim these from Customs. Any ideas greatly appreciated.

paultaylor@vatease.c
Posts:397
Joined:Wed Aug 06, 2008 3:02 pm

Postby paultaylor@vatease.c » Wed Nov 17, 2004 7:54 am

Bank fees for the handling of money or the provision of credit do not attract VAT. There is therefore no VAT to be reclaimed.

If the bank carries out any other services, such as financial or business advice, these may attract VAT.

Regards

Paul Taylor
httpw//www.vatease.co.uk/


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