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HMRC internal manual

Insurance Premium Tax

Maintaining the IPT Register: deregistration: when deregistration is not appropriate

Deregistration is not appropriate when an insurer experiences a temporary suspension of taxable business due either to reasons connected with the insurer’s routine business cycle or some exceptional factor such as damage to premises or systems. Where an insurer intends or expects to continue to receive or write taxable premiums deregistration is not appropriate.

Insurers who receive regular but infrequent taxable premiums, such as captives who receive annual premiums, will continue to be registered.