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SOC Private Capital Limited v. Commissioners of Customs & Excise – VAT Tribunal

This case concerned the extent of the exemption concerning supplies of insurance and supplies of financial services. Taxpayers were members agents at Lloyd’s and the first issue was whether the members agents were insurance agents and the Tribunal concluded that they were. However, the Tribunal concluded that the Appellants did not make supplies of financial services. The relevant legislation was Article 13B(a) and (d)(3) of the Sixth Directive and reference was also made to the Article 2 of the Insurance Directive.

Hugh McKay appeared for the Respondents

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