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Insurance: VAT

Volume 475: debated on Tuesday 6 May 2008

To ask the Chancellor of the Exchequer what value of VAT receipts have been received by his Department from insurance claims from the flooding in summer 2007. (202893)

HM Revenue and Customs does not collect data on VAT from individual goods and services.

The extent to which spending related to the floods and funded by insurance claims might impact on overall VAT receipts is unclear given the need to take into account a broad and complex range of reclaim, offsetting and displacement factors over a reasonable period of time. As such, no assessment has been made.