HMRC consults on applying VAT charge to research payments under MiFID II

Asset managers could further reduce research budgets

Natalie Kenway
clock • 2 min read

Research payments could be hit with a full 20% VAT charge after MiFID II comes into force next year, as Her Majesty's Revenue and Customs (HMRC) considers the tax implications of separating the payments from usually tax-exempt trade execution services.

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