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HMRC internal manual

VAT Finance Manual

Money (including transfer of money) and related services: operation of a current, deposit or savings account: legal provisions

Article 135.1 (d) of the Principal VAT Directive exempts:

transactions, including negotiation, concerning deposit and current accounts

This has been enacted into UK law as the VAT Act 1994, Schedule 9, Group 5, item 8, which exempts:

the operation of any current, deposit or savings account.