Beta This part of GOV.UK is being rebuilt – find out what this means

HMRC internal manual

VAT Insurance

From
HM Revenue & Customs
Updated
, see all updates

General introduction and the law: legal notes to Group 2: Legal Note 5 - details on the document

  1. The statements referred to in Note (4) are -

  2. a statement setting out the amount of the premium under any contract of insurance that is to be or may be entered into in pursuance of the transaction in question; and
  3. a statement setting out every amount that the customer is, is to be or has been required to pay, otherwise than by way of such a premium, in connection with that transaction or anything that is to be, may be or has been done in pursuance of that transaction.

This note ensures that the document outlined at Note 4 details the amount of the insurance premium and every other amount that is to be paid by the customer relating to the insurance transaction. This includes any fee over and above the amount of the premium or any other costs in relation to the insurance (see also VATINS5720 to VATINS5750).