The First Tier Tax Tribunal has found against Riskstop Consulting Ltd TC04636 in its appeal against HMRC’s ruling that its services are standard-rated. Riskstop provides services to insurers of creating risk assessment questionnaires and then analysing responses from potential insureds, and it also assists insured parties in implementing the recommendations arising.
The reasoning of the tribunal is that Riskstop cannot be an insurance agent within the meaning of that term as derived from the latest Upper Tribunal judgment in the ongoing proceedings involving Westinsure. Westinsure is appealing further to the Court of Appeal, and developments in that litigation may well affect the tribunal decision in Riskstop.