HMRC seeks views on operation of Insurance Premium Tax

The UKs taxman has launched an open consultation into how the Insurance Premium Tax (IPT) operates as part of efforts to ensure fairness and efficiency.Closing on July 17, the call for evidence is focused on examining the administration and collection of IPT as well as the existence of unfair tax outcomes. HM Revenue & Customs (HMRC) stressed that current IPT rates and exemptions are not part of the reviews scope.

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