Brokers in the spotlight after surprise IPT ruling
Closure of tax loophole could hit brokers' pockets
Brokers could be forced to share commercially sensitive information with insurers following the Government's shock decision to apply Insurance Premium Tax (IPT) to intermediary fees.
Without any prior discussion with the industry, Chancellor Alistair Darling announced in his pre-budget report that IPT was being extended to fees on personal lines insurance sold through brokers with immediate effect.
HM Revenue & Customs (HMRC) currently has no plans to change its collection process, meaning that
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