On 1 March 2019, the UK government announced regulations on VAT recovery for financial services exports in the event the UK leaves the EU with no deal. The Value Added Tax (Input Tax) (Specified Supplies) (EU Exit) (No. 2) Regulations 2019 were made on 28 February 2019 and will enter into force on such day as the Treasury may appoint. Currently, suppliers may not generally claim input VAT on exempt supplies, such as financial services, but where such services are exported outside of the EU, input VAT is allowed. The regulations extend this treatment to supplies made to customers in...