Is business insurance VATable?


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Macky

Midfield
I have business insurance that covers my equipment and all liability, is this Vatable (can I claim back the VAT) or is it exempt.?
 
Nope. Only certain types of engineering Insurance. Or business travel insurance.

Otherwise just subject to Insurance Premium Tax at 6%.
 
Insurances exempt...not to be confused with IPT( as both that and VAT were the same rate at one point) which led to an assumption VAT was charged on insurance..
 
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