Insurance Questions

Topics	Statistics	Last Post
Closed, Sticky: Building Insurance - Blocks of flats. by leaseholdanswers Started by leaseholdanswers, 12-01-2014, 12:38 PM	0 responses 5,681 views 0 likes	Last Post by Priever 11-10-2017, 12:34 PM
Sticky: Leaseholder’s rights to 1 insurance policy information & 2 Right to Lodge a Claim by leaseholdanswers Started by leaseholdanswers, 27-12-2013, 10:53 AM	0 responses 3,794 views 0 likes	Last Post by Klanator 06-09-2017, 08:01 AM
Closed, Sticky: Escape of Water In Flats Claims- Who Pays the Excess by leaseholdanswers Started by leaseholdanswers, 30-07-2013, 10:13 AM	0 responses 5,439 views 0 likes	Last Post by leaseholdanswers 30-07-2013, 10:13 AM
Closed, Sticky: Escape of Water Leaks in Flats by ashburnham Started by ashburnham, 04-07-2013, 15:21 PM	0 responses 8,556 views 0 likes	Last Post by ashburnham 04-07-2013, 15:21 PM
legal expense cover by desamax Started by desamax, 10-11-2018, 15:36 PM	3 responses 69 views 0 likes	Last Post by Gordon999 15-11-2018, 09:22 AM
Water escape insurance claim -insurance renwal quotes post claim by Milly26 Started by Milly26, 10-11-2018, 19:56 PM	4 responses 71 views 0 likes	Last Post by Milly26 12-11-2018, 01:02 AM
Could somebody reccomend a reliable insurance broker? by CannonPark Started by CannonPark, 11-10-2018, 14:00 PM	3 responses 86 views 0 likes	Last Post by flyingfreehold 27-10-2018, 20:05 PM
Insurance company dragging their feet legal fees cover by alice123 Started by alice123, 20-10-2018, 12:56 PM	5 responses 68 views 0 likes	Last Post by Gordon999 22-10-2018, 08:59 AM
Claim on rental flat affecting my home insurance by Lots on Started by Lots on, 12-10-2018, 16:34 PM	2 responses 71 views 0 likes	Last Post by Lots on 21-10-2018, 14:58 PM
Your opinions please by Presuming Ed Started by Presuming Ed, 21-10-2018, 12:04 PM	1 response 32 views 0 likes	Last Post by theartfullodger 21-10-2018, 12:07 PM
Insurance didn't pay out, was this right? by budget888 Started by budget888, 10-10-2018, 08:40 AM	5 responses 107 views 0 likes	Last Post by ashburnham 11-10-2018, 15:42 PM
Landlord Insurance - Which type of cover? by paduk Started by paduk, 10-10-2018, 17:31 PM	2 responses 66 views 0 likes	Last Post by tatemono 11-10-2018, 08:49 AM
Other owner not adequately insured. by hateddevil Started by hateddevil, 24-09-2018, 16:08 PM	8 responses 131 views 0 likes	Last Post by alice123 08-10-2018, 22:16 PM
Water Leak outside Leasehold flat by Sahar Started by Sahar, 28-09-2018, 11:02 AM	4 responses 90 views 0 likes	Last Post by leaseholder64 08-10-2018, 11:34 AM

Is IPT tax recoverable from service charges?

Milly26

I was reading through some tribunal cases and they stated interest is not recoverable from the Lease...so does this mean IPT tax on insurance is NOT recoverable?
- Channel: Insurance Questions
11-12-2018, 23:46 PM
Reply to Is IPT tax recoverable from service charges?

eagle2

Some leases do allow the landlord to borrow money and include interest charges within the service charge expenditure....
- Channel: Insurance Questions
13-12-2018, 20:31 PM
Reply to Is IPT tax recoverable from service charges?

Gordon999

Some leases do include a clause to say that leaseholder in arrears on payment on annual service charge or annual ground rent may be charged interest at Nat-West Bank's standard interest rate + 4% .

But this situation is not the same as "recoverable from the service charge accoun...
- Channel: Insurance Questions
13-12-2018, 10:30 AM
Reply to Is IPT tax recoverable from service charges?

eagle2

If the lease does not permit interest to be included within the service charge expenditure, it should not be included. That has nothing to do with insurance. IPT is an integral part of the cost of insurance and if the lease requires you to pay insurance, you should pay the full cost, not part of it...
- Channel: Insurance Questions
12-12-2018, 11:23 AM
Reply to Is IPT tax recoverable from service charges?

Milly26

Lease no interest can be added to the service charges...
- Channel: Insurance Questions
12-12-2018, 10:26 AM
Reply to Is IPT tax recoverable from service charges?

eagle2

I don’t understand the question, please explain your reasoning why interest has anything to do with insurance....
- Channel: Insurance Questions
12-12-2018, 07:54 AM
Reply to Is IPT tax recoverable from service charges?

Gordon999

IPT is charged at 12% and is not the same as VAT which is charged at 20%.

VAT at 20% is added to the invoice by the supplier if his turnover exceeds £85K p.a ?

IPT at 12% is charged on insurance cover.

VAT at 5% is charged for supply to residential buildin...
- Channel: Insurance Questions
12-12-2018, 04:26 AM
Reply to Is IPT tax recoverable from service charges?

leaseholder64

Note that it comes out of the service charge by definition based on the statutory definition of service charges. It may be a different part of the service charge, and may have a different reserve fund treatment. It may be referred to as an insurance rent, but is still service charge from the point of...
- Channel: Insurance Questions
12-12-2018, 00:13 AM
Reply to Is IPT tax recoverable from service charges?

leaseholder64

Yes. Nothing else would make sense.
- Channel: Insurance Questions
12-12-2018, 00:01 AM
Damage to my property insurance claim

retro

The owner of the next door property has recently crashed his car into brick wall in front of my house. He demolished the whole of the front garden.
I would like to get compensation from his insurance policy.
Will my insurance premium go up if I proceed with the claim through my insurer who...
- Channel: Insurance Questions
10-12-2018, 23:32 PM

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