Revenue has advised in eBrief No. 63/16 (see here) that two new VAT manuals have been created.

These provide guidance in two areas:

• Revenue’s position on the ‘management of special investment funds’ following the decision of the Court of Justice of the European Union in GfBK (Case C-275/11) which concerned the VAT treatment of investment advisory and information services outsourced by a fund manager to a third party; and
• The VAT treatment of management services supplied in relation to Self-Directed Life Assurance Bonds and equivalent products. Revenue has noted conditions that must be met for the activity to qualify for VAT exemption and the application of the exemption will be kept under review.