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HMRC internal manual

Insurance Premium Tax

Maintaining the IPT Register: registration of taxable intermediaries: other information

For general information on contracts relating to the higher rate see IPT04900.

Where a taxable intermediary has registered for IPT, the tax point is the date on which they receive payment of any fee, and they account for the IPT in the accounting period in which the tax point occurs.

Where a taxable intermediary has accounted for IPT on a fee and then repays all or part of the fee to their customer, they may claim a tax credit on their next return.