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HMRC internal manual

Insurance Premium Tax

From
HM Revenue & Customs
Updated
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Maintaining the IPT Register: Procedures for updating the IPT register: Invalid entries in the register

An entry in the IPT register is invalid if an insurer or other person should never have been registered at all. A trader who is not an insurer, a taxable intermediary, or an insurer who writes only insurance which is IPT exempt, should not to be registered for IPT. If such traders or insurers are registered their entry in the IPT register is invalid. Invalid entries must be cancelled from the outset and not a current or future date. If, however, a broker has registered on an insurer’s behalf, whilst the broker’s registration is still invalid the insurer could opt to take over the broker’s registration. The procedures for dealing with invalid entries in the IPT register are explained in IPT10175.