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Insurance-Related Services

Nick Warner VAT senior manager in Grant Thornton's Financial Markets Group discusses the recent Condoc which was issued by HMRC in response to the Arthur Andersen & Co Accountants case
The long awaited consultation document (Condoc) in response to the ECJ judgment in the case of Arthur Andersen & Co Accountants was published by HM Revenue & Customs (HMRC) on 8 July and for businesses in the insurance sector it makes quite depressing reading. This article covers some of the issues that may turn out to be the focus of representations.
If the UK legislation is amended and interpreted along the lines suggested in the Condoc key insurance-related activities such as claims handling policy administration and run-off services will cease to be exempt from...

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