The case of Dollar Financial UK Limited demonstrates that the exemption for financial intermediation is more widely drawn than was perhaps first thought. At one time HMRC were reluctant to accept that a supply consisted of intermediation where the services of the agent were minimal. The advent of technology now means that a person's eligibility to purchase a financial product can be quickly assessed by platforms sited within a webpage. Ostensibly the webpages act as a lead generating tool for sellers of financial products.
HMRC argued in this case that there had to be a legal relationship between lead generator and customer for the exemption to apply - the Tribunal disagreed.
If you have clients advertising financial products via the web this item may be of real interest.