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HMRC internal manual

Insurance Premium Tax

Procedure tables: changes to bank account details

  1. NO LIPTO action is required - all requests must be forwarded immediately to BTOps, and a copy retained locally.
  2. For all changes to bank account details, written notification is required from the registered insurer. If an insurer pays IPT by direct debit, a new direct debit mandate (IPT 15) will need to be completed. The new details should be on record before the next payment is due - if LIPTOs are aware that this is not achievable, contact BTOps for advice (the insurer will need to be contacted to confirm the situation and arrange for an alternative method of payment).
  3. LIPTOs should confirm that the bank account details on record are correct.