HMRC's IPT decision hailed as good news for brokers
Her Majesty’s Revenue & Customs has opted against making brokers liable for any unpaid Insurance Premium Tax where they used IPT unregistered insurers and against introducing IPT on brokers’ administration fees.
The decision followed a call for evidence from HMRC in 2019 on the operation of IPT, which led to a consultation from November 2020 to February this year on administration and unfair outcomes.
The
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