Tax
IPT an "under-exploited" revenue source claims tax expert
A sharp increase in the number of insurance premium tax rate rises announced this year proves that governments are focusing more on this tax as a way of repairing public finances, according to insurance tax compliance specialists Fiscal Reps.
Ex-Irish PM slams tax rise demands
A former Irish Prime Minister has said that forcing Ireland to raise corporation tax from 12.5% would have been "counter-intuitive" of countries involved in bailing out the troubled economy.
Britain set to contribute £7bn to bail-out Ireland
The British taxpayer will contribute £7 bn towards the £77 bn bail-out that Ireland seeks, according to reports.
Personal injury - Culture change: Care, not cash
A perceptual shift must occur within the industry as well as across the public and the legal profession to replace cash in personal injury claims with care, argues Andrew Pemberton. Without it, the UK will struggle to escape the blame-and-claim culture…
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.
Comment - flooding: Passing the buck on floods
There is demonstrable lack of interest on all sides when it comes to improving buildings' flood defences and risk profiles. The industry, government and homeowners all need to work together, argues David Walker.
EU retreat on insurance VAT exemption reform
The European Union has announced that it is unlikely to push forward with the reform and simplification of the VAT exemption on insurance and the wider financial services industry.
ECJ ruling delivers blowover outsourcing VAT costs
VAT experts have predicted insurance companies could be liable for increased costs, after being dealt a blow by the European Court of Justice.
Insure & Go warned of £6.73m VAT bill weeks before Mapfre swoop
Travel insurance intermediary Insure & Go warned it would have to raise additional capital if it lost an appeal against the HMRC weeks before it was acquired by its underwriting partner Mapfre Assistance, Post has learnt.
PwC: ECJ ruling throws a spanner in the works for outsourcing plans
Pricewaterhouse Coopers has warned outsourcing costs for insurers could jump by 20% following what it described as "unexpected decision".
In series - Property claims: The price is right
Getting the balance right over rates for property claims is essential. Sam Barrett reports on the measures taken to ensure repairs are carried out at the market rate, keeping both customers and contractors happy.
Broker status: Broker LLP - a beneficial partnership?
Lockton is set to become the biggest intermediary yet to become an LLP broker. Edward Murray looks at the benefits of such a transformation.
Biba establishes working group to tackle PMI tax
The British Insurance Brokers’ Association is set to establish a working group to tackle the issue of personal tax on private medical insurance.
Claims - VAT relief: Finding relief
With VAT rising to 20% from early next year, Alistair Winning & David Damsell look at how the rules surrounding this tax need to be examined closely by all parties to ensure the full relief available is claimed.
Spending Review 2010: Osborne pledges to “extract the maximum” tax from financial services
Chancellor George Osborne has vowed that the financial services sector is taxed more efficiently – starting with a permanent levy on banks.
UK insurers warned about new 20% EU tax hit on outsourcing
The UK insurance industry has today been warned it is set for increased costs on outsourcing as other EU countries force through the removal of the VAT exemption on outsourced claims handling.
UK insurers warned about new 20% EU tax hit on outsourcing
The UK insurance industry has today been warned it is set for increased costs on outsourcing as other EU countries force through the removal of the VAT exemption on outsourced claims handling.
CEA warns of European tax proposals "moral hazard"
The European insurance federation CEA has accused the European Commission of failing to differentiate between different types of financial institutions in its plans for taxation of the financial sector.
EC sets out plan to raise billions through financial sector tax
The European Commission has set out its ideas for the future taxation of the financial sector.
EC sets out plan to raise billions through financial sector tax
The European Commission has set out its ideas for the future taxation of the financial sector.
German government gives local insurers a tax break
The German insurance trade association GDV has welcomed a move by the government to tweak its new tax regime.
German government gives local insurers a tax break
The German insurance trade association GDV has welcomed a move by the government to tweak its new tax regime.
Treasury rejects ABI call for IPT concession
The Treasury has rejected a plea by the Association of British Insurers for a concessionary period when the implementation of the new insurance premium tax rate rises come into effect next year.
Environmental liability: The carrot or the stick?
The idea of a new compulsory insurance class appears to represent opportunity to some and a major risk to market stability for others. Ralph Savage reports on how compulsory financial provision for environmental damage is viewed and whether it could ever…