IPT09115 - Assessments: central assessments

Where an insurer has not rendered an IPT return, assessments will be issued centrally by the BTOps (see IPT01200). These assessments are issued about two weeks after the latest date on which a return should be made.

The amount of tax assessed is based, where no returns have been made, on the estimated taxable premiums given by the insurer on their application to register or, where returns have been made, on the preceding returns.

Where a central assessment is issued (by virtue of section 56(1)(a)), and during a visit it is found that the insurer did not subsequently make a return and that the central assessment is not correct, the insurer should be encouraged to submit a return and any net payment due. If the insurer indicates that they are unwilling to make a return, or subsequently fail to do, so a further (officer’s) assessment can be made under section 56(5).