Commentary

V18.136 Cancellation of registration for insurers

Part V18 Insurance Premium Tax

V18.136 Cancellation of registration for insurers

V18.136 Cancellation of registration for insurers

If an insurer ceases to have the intention of receiving premiums under a taxable business he must advise HMRC in writing1 within 30 days2 of:

  1.  

    •     the date the insurer ceased to have the intention of receiving premiums under a taxable business, and

  2.  

    •     if different, the date on which the insurer's last taxable premium was received3

Provided that HMRC is satisfied that the insurer no longer intends to receive premiums in the course of a taxable business, the insurer may have his registration cancelled with effect from the earliest practicable date4. At one time

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