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HMRC internal manual

VAT Insurance

VAT and Insurance Premium Tax (IPT): What is IPT?: Exemptions

  • reinsurance; long term contracts (such as life insurance);
  • insurance of large international commercial transport mechanisms (such as aircraft or ships);
  • non-UK risks; lifeboats and lifeboat equipment, goods in international transit;
  • export finance related insurance; and certain contracts relating to motor vehicles for use by handicapped persons.