V18.114 Taxable intermediaries and their feesAn anti-avoidance measure was also introduced in respect of fees charged after 19 March 1997 to ensure that premiums subject to a higher rate of tax are not split into taxable and non-taxable elements to reduce the tax payable. It provides that in certain circumstances a fee charged by an intermediary, who for the purposes of the legislation is known as a taxable intermediary, is treated as a premium received under an insurance contract and liable to the higher rate.A fee will be so treated if it is1: • charged at or about the
An anti-avoidance measure was also introduced in respect of fees charged after 19 March 1997 to ensure that premiums subject to a higher rate of tax are not split into taxable and non-taxable elements to reduce the tax payable. It provides that in certain circumstances a fee charged by an intermediary, who for the purposes of the legislation is known as a taxable intermediary, is treated as a premium received under an insurance contract and liable to the higher rate.
A fee will be so treated if it is1:
• charged at or about the
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