A client of mine is an agent for a well known agency who provide Life Insurance.
His income is based on commission (different % commission based on client). Is his income Vatable or Exempt?
Reading online it seems it would be Exempt.. Any feedback would be highly appreciated.
Thanks
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Legislation and guidance now refers to the services of insurance intermediaries, which are VAT exempt.
See chapter 9 in the HMRC notice: https://www.gov.uk/guidance/insurance-notice-70136#insurance-brokers