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.



This notice cancels and replaces Notice IPT1 (October 2018) and Notice IPT2 (February 1999).

Published 24 October 2014
Last updated 6 March 2019 + show all updates
  1. Sections 10 and 11 have been updated to take account of new online registration and special arrangements for Lloyds syndicates, partnerships and overseas insurers.
  2. The standard rate has risen to 12% and the new implementation method is explained in section 15.
  3. This notice has been updated to take account of the online form IPT100. Paper returns will no longer be automatically sent to you.
  4. Details the standard rate rise that came into effect 1 October 2016.
  5. 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.
  6. Details the new spacecraft exemption. Updates section on commissions received by intermediaries.
  7. First published.