Commentary

V18.131 Definition of a person who must register

Part V18 Insurance Premium Tax

V18.131 Definition of a person who must register

Administration

V18.131 Definition of a person who must register

A person who receives, as an insurer, premiums in the course of a taxable business is liable to be registered1.

Although the Interpretation Act 1978, s 5, Sch 1 provides that a 'person' in England and Wales includes both a natural person and a body corporate, the business of insurance is generally carried on by corporate bodies. Individual members of Lloyd's are a significant exception and special rules cover their registration, as described in V18.134.

An insurer must register as soon as he intends to receive premiums in the course of a

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