VATFIN4300 | Securities and related services: intermediaries and introductory charges

Intermediary services in respect of transactions in securities are exempt under item 5. For more information see VATFIN7000.

In general, introductory charges are liable to VAT at the standard rate. However, if the charge is in respect of transactions in securities or secondary securities within item 6 it will be exempt regardless of whether any preparatory work to the transactions is completed (Note (5) to Group 5, Schedule 9).