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HMRC internal manual

VAT Insurance

From
HM Revenue & Customs
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What is insurance for the purposes of the exemption?: the regulation of insurance: Financial Conduct Authority (FCA) guidance

The FCA has issued its own guidance on determining whether something is likely to fall under the regulatory regime for insurance. The guidance lays out the criteria applied by the FCA when making their decisions and gives examples of borderline cases and the key factors in determining which side of the line they fall.

It can be found on the FCA website at http://www.fca.gov.uk/ and it is recommended that it is consulted before any decision is taken on whether or not a supply is one of insurance.

Section 3 covers some specific borderline areas and considers them in the light of the FCA guidance. In particular these are: