IPT06310 - Maintaining the IPT Register: Overseas insurers: Appointing an agent
Under common law, any person may appoint someone else to act as an agent on their behalf. Therefore, there is no specific provision in the IPT legislation to cover this option. The only requirement is that, a newly registering overseas insurer must provide written authorisation on the IPT 1 form before we are able to deal with an agent on the insurer’s behalf. We will need a similar authorisation each time there is a change of agent. The agent would be expected to complete and make IPT returns, keep and produce records for inspection and generally discharge all the other IPT obligations of the insurer, but they will not be liable for any tax that is due.