The Insurance Premium Tax Regulations 1994

Making of returns

12.—(1) Subject to paragraphs (2) and (4) below and save as the Commissioners may otherwise allow, a registrable person shall, in respect of each accounting period, make a return to the Controller, Central Collection Unit (IPT) on the form numbered 4 in the Schedule to these Regulations.

(2) Lloyd’s may, in respect of any two or more syndicates of underwriting members of Lloyd’s for which it is required by regulation 9(3) to act as representative as regards an accounting period which, as regards each such syndicate, begins on the same date and ends on the same date, make a return on the form numbered 5 in the Schedule to these Regulations; and, provided it is accompanied by a summary schedule on the form numbered 6 in the Schedule to these Regulations, the making of a return under this paragraph shall be treated as sufficient compliance with paragraph (1) above in relation to the accounting period of each of the syndicates concerned.

(3) Subject to paragraph (4) below, a registrable person shall make each return not later than the last day of the month next following the end of the period to which it relates.

(4) Where the Commissioners consider it necessary in the circumstances of any particular case, they may—

(a) vary the length of any accounting period or the date on which it begins or ends or by which any return must be made;

(b) allow or direct the registrable person to make a return in accordance with sub-paragraph (a) above;

(c) allow or direct a registrable person to make returns to a specified address;

and any person to whom the Commissioners give any direction such as is referred to in this regulation shall comply therewith.