§ Mr. ChaytorTo ask the Chancellor of the Exchequer what assessment he has made of the implications of the recent VAT tribunal ruling in respect of the outsourcing of investment management by Prudential Assurance on the outsourcing of vehicle repairs by insurance companies; and if he will make a statement. [157900]
§ Dawn PrimaroloThe Tribunal's decision that the management of an authorised unit trust scheme is exempt, whoever provides the services has no implications for suppliers of other services to insurance companies.
§ Mr. ChaytorTo ask the Chancellor of the Exchequer what estimate he has made of the cost of VAT refunds to be paid to the financial services industry following the VAT tribunal ruling against Customs and Excise in respect of the outsourcing of investment management; and if he will make a statement. [157899]
§ Dawn PrimaroloNo refunds are being paid as Customs have appealed the VAT Tribunal's decision to the Court of Session.