VAT on annual card fee?

[notenoughmiles]

This may be a daft question but is the COT Annual Fee inclusive of VAT?

Same goes for Amex / Barclays Avios Mastercard annual fees?

[Rob]

No, financial products do not incur VAT.

[notenoughmiles]

Thanks Rob 👍🏼

[VikasG]

I thought this was the case HOWEVER I have an ANNA business account for one of my companies and they charge VAT on their transaction charges. Strange as never seen it before but I think rob is right on this one no VAT

[JDB]

VikasG wrote:

I thought this was the case HOWEVER I have an ANNA business account for one of my companies and they charge VAT on their transaction charges. Strange as never seen it before but I think rob is right on this one no VAT

Not every financial service is exempt from VAT. A lot of financial advisory services are VATable as are some of the services offered by people like ANNA who offer non financial products as an add on to their bank type services, eg accounting software.