- Determining whether risks are located inside or outside the UK for insurance premium tax purposes (Tartaruga Insurance Ltd v HMRC)
- What are the practical implications of this case?
- What rules apply to determine whether a risk is situated outside or inside the UK?
- What was the background?
- What did the tribunal decide?
- Case details
Tax analysis: In Tartaruga, the First-tier Tax Tribunal (FTT) considered the approach to take in determining the extent to which insurance contracts relate to risks situated inside the UK (in which case UK insurance premium tax (IPT) applies) or outside the UK (in which case, UK IPT doesn’t apply). This decision also involved analysing the meaning of ‘buildings’ and ‘establishment’ when determining the subject matter to which insurance contracts ‘relate’. Written by Sarah Black, barrister, at 11 New Square.
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