Commentary

V18.140 Group registration

Part V18 Insurance Premium Tax

V18.140 Group registration

V18.140 Group registration

A group of at least two corporate bodies may account for IPT under a single IPT registration. If a corporate body is treated as a member of a group then1:

  1.  

    •     any taxable business carried on by a member of the group shall be treated as carried on by the representative member

  2.  

    •     the representative member shall be regarded as the insurer or as the case may be the taxable intermediary

  3.  

    •     any receipt by a member of the group of a premium under a taxable insurance contract shall be taken to be a receipt by the

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