Commentary

V18.176 Records—insurers and taxable intermediaries

Part V18 Insurance Premium Tax

V18.176 Records—insurers and taxable intermediaries

Information

V18.176 Records—insurers and taxable intermediaries

Regulations under FA 1994, Sch 7, para 1(1) require insurers and taxable intermediaries to keep certain records from the date they are registered or are liable to be registered1. An insurer or taxable intermediary must keep2:

  1.  

    •     its business and accounting records

  2.  

    •     copies of policy documents, cover notes, endorsements and similar documents

  3.  

    •     copies of invoices, renewal notices and similar documents

  4.  

    •     copies of all credit and debit notices or any other documents which evidence an increase or decrease in the amount of premium or fee

  5.  

    •     any other records which HMRC

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