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HMRC internal manual

Insurance Premium Tax

Procedure tables: non-standard tax periods

  1. For changes of return periods to non-standard tax periods (NSTPs), to coincide with financial years, a written request is needed from the insurer.
  2. There is no form for changes to NSTPs: if a request is received direct at BTOps, this will be processed and copied to the LIPTO. All requests received locally should be forwarded to BTOps for action, unless there are any reasons to refuse the request.
  3. NSTPs do not finish on calendar month ends, but should normally finish within 14 days either side of the normal period end. This may be extended to 20 days by the LIPTO, if the insurer is unable to comply.
  4. If the insurer uses 4 week accounting periods, two of the 4-week periods will need to be combined to produce three 12-week periods, and one 16-week period.
  5. Any request to include a non-standard tax period should be received by BTOps before that period’s end date.
  6. The NSTP concession will be withdrawn if the insurer fails to render returns and pay the tax due within one calendar month of any period end.
  7. If an application is refused, the insurer will be placed on a standard stagger.
  8. A renewal reminder is issued automatically from BTOps each year - which requires a request from the insurer to continue the NSTPs. If no request to continue is received, the periods revert to a standard stagger (usually stagger 1).