Statutory Instruments
2004 No. 3083
VALUE ADDED TAX
The Value Added Tax (Insurance) Order 2004
Made
24th November 2004
Laid before the House of Commons
24th November 2004
Coming into force
1st January 2005
The Treasury, in exercise of the powers conferred upon them by section 31(2) of the Value Added Tax Act 1994( 1 ), hereby make the following Order:
1. This Order may be cited as the Value Added Tax (Insurance) Order 2004 and comes into force on 1st January 2005.
2. Group 2 (insurance)( 2 ) of Schedule 9 to the Value Added Tax Act 1994 (exemptions) is varied in accordance with the following articles.
3. For items 1 to 3 substitute —
“ 1. Insurance transactions and reinsurance transactions. ” .
4. In item 4(a) —
(a) after “a contract of insurance” insert “or reinsurance”, and
(b) for “any such provision of insurance or reinsurance as falls, or would fall, within item 1, 2 or 3” substitute “an insurance transaction or a reinsurance transaction”.
5. Omit Notes (A1) to (C1).
6. In Note (2)(a), for “any insurance or reinsurance the provision of which falls within item 1, 2 or 3” substitute “insurance or reinsurance”.
Jim Murphy
Derek Twigg
Two of the Lords Commissioners of Her Majesty’s Treasury
24th November 2004
Group 2 was substituted by section 38 of the Finance Act 1997 (c. 16) and relevant amendments were made to it by article 347 of S.I.2001/3649 .