VAT in Insurance

Quorum Training

Course

In City of London

£ 545 + VAT

The best Other Taxation courses

See all

See all

Description

  • Type

    Workshop

  • Location

    City of london

  • Class hours

    6h

  • Duration

    1 Day

Ideal for those new to VAT in this sector

VAT is complex but the insurance industry has its own special procedures, ‘language’, some unique rules and specific partial exemption methods. UK legislation derives from EU legislation but is sometimes at odds with it. This sector is particularly sensitive to changes from cases in the Court of Justice of the European Commission. This course covers aspects of VAT specific to the insurance industry focusing on avoiding pitfalls and mitigation techniques with reference to decided cases. This course will be updated as the impact of Brexit is known.

Facilities

Location

Start date

City of London (London)
See map
138-142 Holborn, EC1N 2NQ

Start date

On request

About this course

This is suitable for those who have VAT experience but new to the sector and will give a sound grounding in both compliance and planning matters.

Questions & Answers

Add your question

Our advisors and other users will be able to reply to you

Who would you like to address this question to?

Fill in your details to get a reply

We will only publish your name and question

Reviews

Subjects

  • Financial Services
  • Transactions
  • Returns
  • VAT
  • Tax Law
  • Tax Calculation
  • Taxation Law
  • Business Taxation
  • Financial
  • Planning
  • Industry
  • Insurance
  • Financial Training

Teachers and trainers (1)

Gwen Ryder

Gwen Ryder

Teacher

Gwen has been a VAT and customs duty specialist and lecturer for her entire career. She worked in H M Customs (now HM Revenue and Customs) for 9 years before joining the “Big 5”. She subsequently became the VAT and Customs Partner in a top 20 firm, and then formed her own consultancy practice in 2003. Gwen is an Associate of, and former examiner for, the Institute of Indirect Tax, and a member of the Customs Practitioners Group and The VAT Practitioners Group.

Course programme

How VAT affects insurance transactions

  • A review of the key issues
  • Basic compliance issues
  • Basic VAT planning

The exemption for insurance transactions

  • UK insurance premiums and commissions
  • P&I Clubs and their managers
  • Lloyd’s Underwriters and Managing Agents
  • Transactions which are not exempt
  • Intermediaries
  • The problems of outsourcing
  • Investment and other income

International services

  • Exempt and ‘Outside the scope’ premiums
  • The effects on VAT recovery
  • Intermediaries and the ‘look through’
  • The ‘reverse charge’
  • Branch and subsidiary issues

Partial exemption

  • The basic principles
  • Direct attribution
  • The standard method
  • Special methods for insurers and intermediaries
  • Items that must be excluded following recent case law or because of distortions

Dealings with HMRC

  • Specific compliance issues for insurance
  • Planning points
  • Risk areas and golden rules
  • The penalty regime and how to avoid it

See related categories

VAT in Insurance

£ 545 + VAT

The best Other Taxation courses

See all

See all