The Insurance Premium Tax Regulations 1994

1. Introductory Text

2. PART I PRELIMINARY

   1. 1. Citation and commencement

   2. 2. Interpretation

   3. 3. Requirement, direction, demand or approval

3. PART II REGISTRATION AND PROVISIONS FOR SPECIAL CASES

   1. 4. Notification of liability to register

   2. 5. Changes in particulars

   3. 6. Notification of liability to be de-registered

   4. 7. Transfer of a going concern

   5. 8. Registration of Lloyd’s syndicates

   6. 9. Representation of Lloyd’s syndicates

   7. 10. Representation of unincorporated body

   8. 11. Death, bankruptcy or incapacity of registrable persons

4. PART III ACCOUNTING, PAYMENT AND RECORDS

   1. 12. Making of returns

   2. 13. Correction of errors

   3. 14. Claims for overpaid tax

   4. 15. Payment of tax

   5. 16. Records

5. PART IV CLAIMS IN RESPECT OF CREDIT

   1. 17. Scope

   2. 18. Claims in returns

   3. 19. Payments in respect of credit

6. PART V SPECIAL ACCOUNTING SCHEME

   1. 20. Interpretation

   2. 21. Notification by insurer that scheme to apply

   3. 22. Relevant accounting periods

   4. 23. Premiums treated as received on premium written date

   5. 24. Amount of premium

   6. 25. Credit

   7. 26. Withdrawal from the scheme

   8. 27. Expulsion from the scheme

   9. 28. Tax to be accounted for on cessation

7. PART VI TAX REPRESENTATIVES

   1. 29. Notification in certain cases

   2. 30. Registration

   3. 31. Liability to notify

8. PART VII LIABILITY OF INSURED PERSONS

   1. 32. Interpretation

   2. 33. Scope

   3. 34. Liability notices

   4. 35. Power to assess tax due

   5. 36. Persons liable for tax assessed

   6. 37. Adjustment of assessments

   7. 38. Time for payment

   8. 39. Interest on reimbursements

   9. 40. Allocation of payments

   10. 41. Records

9. PART VIII DISTRESS AND DILIGENCE

   1. 42. Distress

   2. 43. Diligence

10. Signature

11. 1. SCHEDULE

12. Explanatory Note