Insurance Premium Tax - A user's guide

Insurance Premium Tax - A user's guide

Insurance Premium Tax is a guide for practitioners and those involved in the insurance industry. It summarises how the IPT is applied in practice, the definition of an insurance contract, looks at exemptions from the tax, the application of the higher rate and issues affecting non UK risks and global policies. It also explores compliance issues such as IPT registration, the submission of returns and payment of the tax, changes in rates and the penalty regime.

Category: Tax
  • AvailablePaperback9781913507251120 pagesList Price: GBP 65.00 Add to basket
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Insurance Premium Tax is a guide for practitioners and those involved in the insurance industry. It summarises how the IPT is applied in practice, the definition of an insurance contract, looks at exemptions from the tax, the application of the higher rate and issues affecting non UK risks and global policies. It also explores compliance issues such as IPT registration, the submission of returns and payment of the tax, changes in rates and the penalty regime.
The major change that has taken place since the first edition has been the UK leaving the European Union. The author explains why this does not impact greatly on IPT, though it makes the discussion on the legality of the tax otiose.
In November 2020, HMRC announced a consultation on IPT. This looked at three main areas: unregistered insurers, some ‘avoidance’ structures involving administration fees and the administration of the tax. The author reports on the consultation and HMRC reaction to industry responses.

Imprint
Spiramus Press
Publisher
Spiramus Press
Language
English
Product Format
Paperback
Dimensions
234 x 156
Publication Date
Mar 3, 2023
Number of Pages
120
ISBN
9781913507251
Product Format
PDF
Publication Date
Mar 8, 2023
Number of Pages
120
ISBN
9781913507268