Insurance premium tax


Produced in partnership with Philip Simpson QC of Old Square Tax Chambers and Terra Firma Chambers
Practice notes

Insurance premium tax


Produced in partnership with Philip Simpson QC of Old Square Tax Chambers and Terra Firma Chambers

Practice notes
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FORTHCOMING CHANGE: Spring Finance Bill 2023 includes a power that takes effect from Royal Assent, to permit regulations to refer to a public notice in regard to making notifications or providing information to HMRC. This will permit HMRC to move IPT forms from secondary legislation into a public notice, by way of a statutory instrument. It is envisaged that the new power will be exercised soon after Royal Assent by moving the IPT forms that are currently in the Schedule to the Insurance Premium Tax Regulations 1994, SI 1994/1774 into a public notice, making it easier to update them in future. For more information, see News Analysis: Legislation Day: Draft Finance Bill 2023—Tax analysis—Improving the administration and operation of insurance premium tax (IPT). In addition, in the consultation outcome document, the government has confirmed that it will engage with industry to explore appropriate public access to a register of insurers registered to pay IPT, alongside a Code of conduct for brokers to follow in relation to IPT. The consultation

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Code of conduct definition
What does Code of conduct mean?

The ethical standards framework governing the conduct of local authority members as laid down by the Localism Act 2011, s 27(1), (2), the Local Government Act 2000, Part III and the Local authorities (Model Code of Conduct) Order 2007 (SI 2007/1159).

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