This book is designed for finance directors and finance controllers in the UK's financial services and insurance sectors, as well as for those who advise these sectors. It assumes a reasonable working knowledge of value added tax (VAT.) VAT and Financial Services takes the reader through the relevant UK legislation and case law, examining: the legal concepts, such as time and place of supply, the distinction between goods and services, what is taxable, and the interaction of these elements * the consequences of outsourcing (through a detailed study of ten significant cases) * the key issues facing financial services and insurance * the VAT cost sharing exemption. The book also includes appendices that cover: contracts of insurance * Lloyd's VAT arrangements * Her Majesty's Revenue and Customs and Association of British Insurers partial exemption guidance for the insurance sector * "Transfer of a Business as a Going Concern" legal extracts * guidance on the cost sharing exemption * the VAT territory of the EU.