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HMRC internal manual

Insurance Premium Tax

HM Revenue & Customs
, see all updates

IPT audit assurance: IPT calculations: special accounting scheme

Insurers must formally apply to use the special accounting scheme. Where an insurer has

  • adopted the special accounting scheme in practice and,
  • has used it consistently and properly but,
  • did not apply before starting to use it,

you should obtain a formal application from the insurer. The procedure is detailed in IPT10400.

This also describes how to deal with an insurer who applies to use the special accounting scheme from a future date; and requests by insurers to use the scheme with retrospective effect.