HMRC has lost an appeal against Trader Media Group and Insurancewide.com over the issue of VAT exemption for online insurance introductory services.
The Court of Appeal was unanimous in confirming that the services do qualify for VAT exemption.
Both websites introduce potential customers to insurers with a view to them purchasing an insurance policy and both receive commissions which are payable when a customer makes a purchase.
HMRC had argued that the companies were not insurance agents or brokers and that the act of introduction was not enough for them to supplying insurance intermediary services. HMRC tried to distinguish pure ‘introducers’ from ‘traditional’ insurance intermediaries on the basis that they did not play any role in negotiating the terms of...
About Gina Dyer
I've been a journalist for four years, writing on a wide variety of topics from business and finance to travel, culture and celebrities. I began my career as an editorial assistant for Palladian Publications, a B2B publisher specialising in technical magazines for professionals in primary industries. I later moved into consumer magazines as a staff writer for French Magazine, a monthly travel publication aimed at Francophiles, and was part of the launch team for The Traveller in France, a quarterly magazine produced for the French tourist board. I was also a regular contributor to online travel portal Homesworldwide.co.uk, and later worked with customer publishers Future Plus as a freelance production editor, before joining Sift Media in January 2009. I am currently Deputy Editor of AccountingWEB.co.uk.