I've read this article linked from the house price crash website:
- posted
18 years ago
I've read this article linked from the house price crash website:
Insurance is an exempt supply so VAT charged by suppliers cannot be recovered.
No. Insurance companies are not VAT registered, because insurance is not a taxable supply. It is subject to insurance premium tax rather than VAT.
Even if they are VAT registered by virtue of making other taxable supplies, they wouldn't be able to claim VAT on any expenses relating to insurance.
"Jonathan Bryce" wrote
... unless their insurance business is *very* small !!
Thanks for the replies. If you "import" services I suppose they are not subject to duty and VAT.
They are subject to VAT if it is a EU country and you are not VAT registered.
Yes I am aware of that, I was thinking of the importation of services from outside the EU. Just that if you import goods, they generally are VATable even if you're tax exempt supplier.
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