The following Value Added Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
This guidance note provides an overview of the VAT rules relating to supplies made by insurance intermediaries and agents. This note should be read in conjunction with the Insurance overview and Insurance ― specific transactions guidance notes.
An insurance agent is not defined in either the UK or EU legislation.
HMRC gives the following definition in its guidance:
“For the purposes of the VAT exemption HMRC recognise, that an insurance agent might be anyone who provides insurance related services in an intermediary capacity. An agent could be a tied agent who sells insurance as his main business or, for example, a typical high street retailer or a car dealer arranging insurance to cover the goods they sell. Whereas an insurance broker usually acts for the insured, an agent may act for the insurer, the insured or both. The definition of an insurance agent, therefore, is fairly wide.”
In HMRC Notice 701/36 , para 9.1.1, HMRC provides the following definition:
If an insurance broker or agent makes the following supplies, they will be exempt
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