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The Court of Appeal (CA) in WTGIL Ltd v HMRC [2025] EWCA Civ 399 considered the scope of the VAT exemption for services supplied by insurance intermediaries. The case concerned motor insurance for young drivers which required the policyholders to have a “black box” device fitted in their car. The question before the CA was whether the services of the provision and fitting of the device were within the scope of the insurance intermediary exemption for VAT purposes. The CA decided that they were.
Transfers of insurance-linked bonds which meet certain conditions will be exempt from UK stamp duties from 17 May 2022. This will be of particular relevance to the insurance sector where such bonds are issued in connection with insurance risk transformation activities. The aim of the new exemption is to reduce the cost and complexity of ILS arrangements and make the UK a more attractive jurisdiction for their location.
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
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