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Financial Services firms avoid VAT on direct mail

Financial services will be to avoid paying VAT on direct mail packs following a tribunal ruling.

The case was brought on behalf of the Leeds-based Direct Marketing Bureau by business adviser Pannell Kerr Forster. The basis of the case was the Customs and Excise decision to levy standard VAT-fees on mailpacks the bureau had created for financial services clients.

In the past such packs had always been considered to be made up mainly of printed matter attracting a zero VAT rating, but the Government argued it was in fact “advertising services” and should attract a standard VAT rate.

The decision could save financial services firms up to £50 for every 1,000 mailing packs despatched.

Direct Marketing Bureau partner Tony Copeland says: “I am delighted with the tribunal&#39s decision. If the ruling had gone against us, it would have had a serious effect on our business.”

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