Industry relief as plans to reform VAT exemption dropped
The European Union's decision to drop its planned reform of the Europe-wide VAT exemption of insurance and other financial services should be a relief to UK insurers and brokers.
According to Richard Asquith, MD of TMF VAT & IPT Services, UK businesses had risked losing up to 20% on their outsourced administration and claims handling costs as irrecoverable VAT.
"Brokers were
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@postonline.co.uk
More on Broker
Industry watches as election puts Martyn’s Law passage in doubt
Anticipated legislation targeted at boosting public premises’ resilience to terrorist attacks could now be delayed by the dissolution of parliament ahead of July’s general election.
Aviva building out strategic broker proposition
Aviva is undertaking a process in which it is engaging with key, strategic brokers in order to build out a new proposition, with a view to launch by January 2025 at the latest.
CII Broking Community’s Patel on insurance’s war for talent
Trade Voice: Isha Patel, managing director for the South East at Partners& and a member of the Chartered Insurance Institute’s Broking Community, says the industry needs to go above and beyond remuneration to attract talent.
Aon’s Kielty sees difficult year ahead and low growth for clients
Experts at the Biba 2024 conference session ‘What’s next for the economy?’, hosted by Clive Myrie, shared mixed outlooks for the UK, looking at regulation, labour market and upcoming election.
Sobering reading for those with a Biba hangover
Editor’s View: If you are nursing a hangover after going to this year’s British Insurance Brokers’ Association conference then Emma Ann Hughes reckons you missed the point of attending the annual gathering in Manchester.
Aon’s Thelwell on ensuring quality and support for UK businesses
View from the Top: Joe Thelwell, UK head of SME at Aon, outlines how the sector can usher small and medium-sized businesses through heightened volatility.
Work from home is a battleground in war for talent
Broker boss Shona Robertson has said rivals with work from home policies are stopping her from achieving more office work time.
Zurich consolidates UK commercial and retail distribution teams
From 20 May, Zurich UK will consolidate its commercial and retail distribution teams into one unit for brokers accessing the business, Insurance Post can reveal.
Most read
- Singapore Airlines victim named as retired insurance manager Geoff Kitchen
- Aviva building out strategic broker proposition
- Insurance veteran running in snap election