Consultation outcome

Insurance Premium Tax: administration and unfair outcomes

• From: HM Revenue & Customs
• Published: 5 November 2020
• Last updated: 30 November 2021 — See all updates

This consultation has concluded

Read the full outcome

Insurance Premium Tax: administration and unfair outcomes - summary of responses (open document format)

ODT, 54.2 KB

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Insurance Premium Tax: administration and unfair outcomes - summary of responses

PDF, 257 KB, 13 pages

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Detail of outcome

This document summarises responses and details next steps following the Insurance Premium Tax (IPT) consultation which took place between 5 November 2020 and 5 February 2021.

The IPT consultation was launched to suggest proposals to prevent unfair outcomes and improve the administration of the tax for both the industry and HMRC. There are no legislative policy changes being announced.

HMRC will engage with industry to seek to establish public access to the register of insurers registered to pay IPT, alongside a Code of Conduct for brokers to follow in relation to IPT.

Further updates will follow subject to the outcome of ongoing discussions with industry.

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Original consultation

Summary

We welcome views on these proposals to improve the administration of Insurance Premium Tax (IPT) and prevent unfair outcomes.

This consultation ran from
9:30am on 5 November 2020 to 11:45pm on 5 February 2021

Consultation description

This consultation proposes possible measures intended to improve the operation of Insurance Premium Tax (IPT), to make it easier for both the industry and HMRC to administer.

It also seeks views on specific measures to prevent certain types of IPT avoidance and evasion.

This consultation will not consider the rates of IPT or the exemptions to IPT.

Documents

Insurance Premium Tax: administration and unfair outcomes

PDF, 348 KB, 20 pages

This file may not be suitable for users of assistive technology.

Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Published 5 November 2020
Last updated 30 November 2021 + show all updates

1. 30 November 2021

   Published a summary of responses to the consultation.

2. 5 November 2020

   First published.