VAT and Insurance Exemption: Intelligent Money Ltd v Revenue and Customs (SIPP) [2023] UKUT 236

• The case is about VAT fees paid to the administrator of a self-invested personal pension (SIPP).
• The issue is whether these fees are considered an insurance transaction.
• The UK legislation is said to properly implement the provisions of the PVD.
• The CJEU has established criteria for the insurance exemption.
• The CJEU cases of CPP, Mapfre, Aspiro, and United Biscuits are relevant to the interpretation of the insurance exemption.
• The essential features of an insurance transaction include the insurer undertaking to provide a service in return for prior payment of a premium.
• The service provided by CPP to its customers was considered an insurance transaction by the CJEU.
• Other key points from the CJEU’s decision in CPP are mentioned.

Source: bailii.org

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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