20 December 2018 – In the BlackRock case, the Upper Tribunal considered whether a single supply of fund management services could be apportioned based on the use of those services, but has decided to refer the matter to the CJEU (Court of Justice of the European Union) for clarification of the law.  The services were used in the management of BlackRock’s ‘Special Investment Funds’ (SIFs, for which there exists a VAT exemption) and also, predominantly, its non-SIF funds (subject to VAT).