Insurance Broking Practice and the Law

Chapter 25



25-1 Insurance premium tax (“IPT”) is generally liable to be accounted for by the insurer rather than the broker, but it directly affects the activities of brokers in the United Kingdom. Brokers can and do become involved in the identification and assessment of IPT where they are required to calculate the IPT which is payable by the insurers in respect of the risk which they place. This chapter reviews, in brief, the principles relating to the charge of this tax.

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