Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 3 weeks ago 46
As I am frequently out of the country I have a single rental property under full management with a local agent. They previously arranged rent and legal protection cover for me through their block policy rather than as an individual.
As it was getting increasingly expensive I have sourced an alternative cover which is considerably cheaper and apparently equally as good.
I have only been charged Insurance Premium Tax on this, not VAT.
My query is why would my agent have charged VAT on the cover he provided?
I have tried the HMRC website but it’s too complex for me to be certain of my facts.
Any (simple) explanation appreciated.
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