Liability ― insurance ― agents, brokers and claims handling

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance note examines the liability of the services of insurance agents, brokers and claims handlers.

For an overview of the VAT liability of insurance more broadly, see the Liability ― insurance ― overview guidance note.

For in-depth commentary on the legislation and case law, see De Voil Indirect Tax Service V4.123.

Liability of services of agents, brokers and claims handling

A supply of insurance is a supply of services and is exempt from VAT, see the Liability ― insurance ― overview guidance note. The VAT exemption for insurance also applies to the services of an insurance agent or an insurance broker acting in an intermediary capacity in relation to insurance.

Examples of services an insurance agent or an insurance broker may provide include:

•
introductory services when a person seeking insurance wants to be introduced to an insurer
•
claims handling services when an insurance policy holder has made a claim

The scope of the VAT exemption for insurance agents and insurance brokers

The VAT legislation provides

Continue reading the full document

To gain access to additional expert tax guidance, workflow tools, and tax research, register for a free trial of Tolley+™

TAKE A FREE TRIAL NOW

Popular Articles

Trusts and Inheritance Tax

Gifts out of surplus income

Gifts out of surplus incomeA valuable exemption from inheritance tax (IHT) applies to gifts out of surplus income. This exemption applies only to lifetime gifts and is therefore a key part of lifetime planning. The exemption applies to both outright gifts and gifts into trust. Gifts which meet the

14 Jul 2020 11:48 | Produced by Tolley in association with Emma Haley at Boodle Hatfield LLP Read more

Personal Tax

Inter-spouse transfer

Inter-spouse transferIntroductionWhen a chargeable asset is transferred between two spouses or civil partners, there is a disposal by the transferor spouse / civil partner and an acquisition by the transferee spouse / civil partner for capital gains tax purposes. For simplicity, spouses and civil

14 Jul 2020 12:01 | Produced by Tolley Read more

Corporation Tax

Withholding tax

Withholding taxIntroductionUK tax must be withheld on UK payments including:•interest•royalties•rental incomeUK withholding tax may be reduced under the provisions of a double tax treaty (DTT). Prior to 1 June 2021, payments of interest and royalties made to EU resident associated companies were

14 Jul 2020 14:01 | Produced by Tolley Read more

UU��ֱ��