Insurance: VAT exemptions
While most traditional insurance companies can with some certainty identify whether their products fall within the VAT exemption the same is not true for businesses which supply insurance in conjunction with other goods and services or which provide long term investment products (some of which bear a resemblance to insurance products).
In this webinar we will show how insurance is defined from a VAT perspective and how to apply this definition in practice. Knowing the key characteristics which need to be present in order for the VAT exemption to apply will enable businesses and their advisors to determine VAT liability with confidence.
The webinar will also review the key VAT accounting issues that suppliers of insurance need to take account of and common issues which arise for insured persons making claims under their policies.
What will I learn?
This webinar will cover:
- How insurance is defined from a VAT perspective;
- How to identify whether insurance is being supplied in practice - including scenarios when it is provided in conjunction with other goods and services; and
- The VAT accounting issues which commonly arise in practice, including how insured persons making a claim under a policy should account for VAT.
Speaker
Sarah Kay CTA
Sarah is the Lead Technical Writer at Croner-i on indirect tax.
She specialises in VAT and other indirect taxes and is Product Champion for In-Depth commentary on indirect tax.
Sarah’s career in tax started over twenty years ago when she joined Ernst & Young’s indirect tax graduate recruitment scheme. Since then, as well as gaining ‘Big 4’ experience, she has worked for a boutique consultancy firm and set up her own VAT practice providing VAT support to small and medium sized accountancy firms.