Notice IPT1: Insurance Premium Tax
This notice gives guidance on Insurance Premium Tax (IPT), what it is, who it applies to and how to pay it.
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Details
This notice cancels and replaces Notice IPT1 (March 2019). It applies to supplies made on or after the UK’s departure from the EU.
Last updated 31 December 2020 + show all updates
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This page has been updated because the Brexit transition period has ended.
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Sections 10 and 11 have been updated to take account of new online registration and special arrangements for Lloyds syndicates, partnerships and overseas insurers.
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The standard rate has risen to 12% and the new implementation method is explained in section 15.
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This notice has been updated to take account of the online form IPT100. Paper returns will no longer be automatically sent to you.
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Details the standard rate rise that came into effect 1 October 2016.
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This notice cancels and replaces Notice IPT 1 (May 2015) and Notice IPT 2 (February 1999). Details of any changes to the previous version can be found in paragraph 1.2 of this notice.
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Details the new spacecraft exemption. Updates section on commissions received by intermediaries.
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First published.