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Predictions for the insurance sector in 2020
Justine McInnes

07 January 2020

With the decorations back away in the loft, the sweet tin looking decidedly empty and the chimes of Big Ben not even an echo in the recent past, we now look to 2020 and what this might hold for the insurance sector.

Response to HMRC IPT consultation
Justine McInnes

Insurance Premium Tax is a complex and unusual tax in that while it is the underwriter which is usually the “taxpayer” for IPT purposes, it is generally the broker which bears at least part of the cost of the IPT.

Huge jump in cyber incidents reported by financial services firms
Steven Snaith

01 July 2019

New data obtained by RSM under a freedom of information request has revealed that financial services firms reported 819 cyber incidents to the Financial Conduct Authority in 2018, a huge rise on the 69 incidents reported in 2017.

Good VAT news for financial services providers
John Forth

08 March 2019

Draft legislation issued last week appears to be very good news for FS providers who supply services to recipients located in the EU, and who currently suffer a significant VAT cost on such supplies – resulting from VAT recovery on the costs associated with these supplies being blocked.

Peter Allen

Partner, Co-Head of Financial Services

Peter co-leads RSM’s UK financial services sector. The FS sector has expertise in private equity, asset and hedge fund management, insurance, banking and fintech: services include audit, tax, corporate finance, restructuring, outsourcing, risk, regulation and internal audit. Peter himself has spent thirty seven years in and advising the London and global insurance market and delivers client engagements in corporate finance, strategy, regulation and governance.

Why insurance brokers are overpaying IPT and underclaiming VAT on data capture devices

14 November 2018

These days, even by Orwellian standards, the extent of the “data trail” which we all leave as we go about our daily lives is astonishing.

No IPT rate rise

29 October 2018

No IPT rate rise this Budget but does it really mean insurance premiums won’t go up? Justine McInnes talks about the common misconception that IPT is passed on to the insured and explains who really bears the cost of this poorly understood tax.

CJEU judgment could impact payment collection service providers and their customers
Justine McInnes

01 August 2018

A new judgment from the Court of Justice of the European Union (CJEU) could have significant VAT implications for providers of payment collection services and those that use their services such as charities, healthcare providers and businesses that accept payments by instalments.

New draft legislation could severely restrict VAT recovery by insurers
Justine McInnes

24 July 2018

New draft legislation issued by HMRC could potentially impose very significant restrictions on VAT recovery by providers of certain 'insurance related' services, RSM has warned.

Italian VAT decision could have implications for insurers and brokers
Justine McInnes

05 July 2018

Insurers, insurance brokers and outsourcing businesses who operate in Italy are advised to take note of a recent decision of the Italian Supreme Court (Cass No. 11442).

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