(1) Block policies

The decision in Card Protection Plan [2001] BVC 158 caused HMRC to re-think their treatment of charges for insurance made in certain situations in conjunction with other supplies. They now accept that such charges made by block policyholders can be seen as exempt insurance transactions, even though they would not be seen as insurance for regulatory purposes. Block policyholders are acting as principals in this situation and not as insurance intermediaries.

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