HMRC stipulates VAT exemption conditions for online intermediaries
Online insurance intermediaries must look closely at their business models in order to qualify for VAT exemption following a briefing by HM Revenue and Customs (HMRC).
The statement was issued at the start of last month after the Court of Appeal found against HMRC in the joint appeals of Insurancewide and Trader Media in April, upholding an earlier High Court decision that certain insurance introductory services provided via the internet were exempt from VAT.
In its briefing, HMRC said it would "now accept that insurance introductory services will be exempt from VAT when a provider is doing much more than acting as a 'mere conduit' through which a potential
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