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Notice

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.

Updates to this page

From:
HM Revenue & Customs
Published:
24 October 2014
Last updated:
31 July 2026
Show all updates

  1. Section 5.2.3 has been updated with HMRC's revised Insurance Premium Tax treatment of buildings and contents insurance for UK-based embassies, from 1 August 2026.

  2. Section 5.12 in Notice IPT1 has been updated with new guidance on Insurance Premium Tax for vehicles leased through qualifying contact-hire schemes for disabled people.

  3. This page has been updated because the Brexit transition period has ended.

  4. Sections 10 and 11 have been updated to take account of new online registration and special arrangements for Lloyds syndicates, partnerships and overseas insurers.

  5. The standard rate has risen to 12% and the new implementation method is explained in section 15.

  6. This notice has been updated to take account of the online form IPT100. Paper returns will no longer be automatically sent to you.

  7. Details the standard rate rise that came into effect 1 October 2016.

  8. 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.

  9. Details the new spacecraft exemption. Updates section on commissions received by intermediaries.

  10. First published.

Documents

Notice IPT1 — Insurance Premium Tax

HTML

Notice IPT1: flowchart

PDF, 98.6 KB, 1 page

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. 

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