Policy paper

Improving the administration and operation of Insurance Premium Tax

This measure will give HMRC powers to make regulations to move Insurance Premium Tax forms from secondary legislation and into a public notice, by way of a statutory instrument.

• From: HM Revenue & Customs
• Published: 20 July 2022

Documents

Insurance Premium Tax: power to make regulations by reference to notices

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Draft legislation

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Draft legislation accessible version

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Explanatory note

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Details

This measure is intended to provide an administrative facilitation for Insurance Premium Tax.

This will improve efficiency, enabling HMRC to:

• amend Insurance Premium Tax forms without the need to legislate
• prepare for digitisation in line with wider government strategy

This will make sure HMRC will be able to respond quickly when changes are required. There is no action for the insurance industry to take.

Published 20 July 2022