Removing the VAT exemption from financial services could raise £8.7 billion in tax a year https://www.taxresearch.org.uk/Blog/2023/09/07/removing-the-vat-exemption-from-financial-services-could-raise-8-7-billion-in-tax-a-year/ Taxing wealth more is not just about the obvious tax changes, long talked about. It is also about removing the structural bias to subsidise wealth in the tax system. Removing the VAT subsidy on financial services is one way to do that.