Insurance Post

VAT waiver for flood victims could be a boon for insurers

People sandbagging flooded streets

Insurers could see lower claims costs from the recent flooding if the government decides to apply a reduced rate of VAT to renovation and repairs for affected properties, according to accountancy firm Baker Tilly.

In Baker Tilly's weekly tax round-up the firm noted that Prime Minister David Cameron has pledged there will be no limits to financial aid in addressing and repairing the damage caused by the storms

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