Commentary

V18.133 Transfer of registration

Part V18 Insurance Premium Tax

V18.133 Transfer of registration

V18.133 Transfer of registration

If a business is transferred as a going concern HMRC may, with effect from the date of transfer, cancel the transferor's registration and register the transferee with the registration number previously allocated to the transferor1. An application must be made on Form IPT68 Request for Transfer of a Registration Number.

The liability of the transferor to make returns and pay tax is then assumed by the transferee2 as is any entitlement to credit3. If the IPT number is transferred the new business owner will become responsible for all existing IPT liabilities of the previous owner. If the

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