Does can insurance enjoy vat on it?
Answers: Hes right you know. No VAT on insurance premiums unless one gets into the inspection cover on engineering policies but that's just me person a smart a55.
Simple answer ... no
xxFJ
No - Insurance is subject to 'insurance premium tax' which is mainly 5% (0 for residents of the Channel islands and Isle of Man).
Interestingly the types of policy where insurance premium export tax is the same as VAT is travel insurance (bought by anyone) and extended warranty insurance (when bought from stores) as travel agents and electrical goods seller started charging large amounts for insurance (taxable at 5%) and reducing the amount for the goods (taxed at 17.5%).
As insurance does nt enjoy VAT on it insurance companies cannot recover VAT on the costs of repairs they pay - this system that if a company is VAT registered (and so can claim back the VAT) the insurance company won't pay it.
Can insurance?
Car insurance doesn't attract VAT, a moment ago Insurance Premium Tax.