IPT08265 - IPT audit assurance: Arrangements for visits: Overseas visits

All visits should normally be made to the UK business premises of a registered insurer, or their UK-based agent. Where there is no UK presence, for example where an overseas insurer is dealing with their own affairs directly, you should ask for the records to be made available in the UK. Where this is not possible you could, as an alternative, ask for a selection of records to be posted to you. However, in exceptional circumstances, it may be necessary to visit the premises of an overseas insurer. For example, requests for the production of prime records in the UK may cause serious logistical or financial difficulties. In this event you should make it clear that any visit to non-UK premises would be exceptional and that we reserve the right to require production of the records in the UK in the future. Two officers would normally be required to carry out the visit and, if the visit includes IT systems audit work, one officer would need to be from the Audit Service. Before any visit to an overseas country can take place we need the permission of the fiscal authority in that country and there is no guarantee that they will necessarily agree. Before agreeing to an overseas visit, report the facts to Financial Services Team.

For a proposed visit to another country, your report must include:

• the full name and address of the insurer;
• the reasons for the visit;
• the names of the officers prepared to carry out the visit;
• whether an interpreter will be required;
• a letter from the insurer requesting a visit to their non-UK premises; and
• the insurer’s written undertaking to pay the full costs of the officers’ travel and accommodation.

Each separate case will be considered on its own merit, and the visit terms negotiated, individually with the relevant revenue authorities in the country concerned where possible.