VAT and Al Capone

[Louisk]

Are bank charges subject to VAT ?

 

If so would it be within my rights to ask for a VAT receipt for every charge made over the last 6 years, or even an invoice showing a complete breakdown of the charge and the VAT element.

 

At least it should be a pain - mind you think of all the trees that would have to die!

 

Tax is how they got Al Capone – maybe we can get these bunch of BBBankers the same way.

[alanfromderby]

No.

[Seminole]

Most bank charges are exampt from VAT except in a very small number of instances where they may be standard rated (occasionally loan arrangement fees can be). Penalty charges are outside the scope of VAT ie they're not even mentioned in the legislation.

 

As Alan says, no.

[Louisk]

Thanks guys

 

back into the frying pan.

[bankoff]

Hi Louisk

 

The Lloyds bank "Business Focus Fee" does have VAT on it.

 

Its a £10 fee (VAT inclusive) for the privelege of having a Manager assigned to you, think he is there to extract as much money out of you as possible.

 

He certainly does not help you.

 

This is the only one I know about, but as its Lloyds then nothing surprises me there.

[Louisk]

This topic was closed on 2019-03-08.

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