Biba warns that HMRC's IPT consultation may have "detrimental impact" on brokers
Issues explored in the government’s consultation on Insurance Premium Tax (IPT) can have a costly impact on brokers if they lead to changes in the rules, the British Insurance Brokers’ Association (Biba) has warned.
At the start of June, HM Revenue & Customs launched a call for evidence on the operation of the IPT.
HMRC said in the document that the broker remuneration model has shifted from being commission-based to charging administration and arrangement fees directly from consumers, and
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected].
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected]anceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Broker
Podcast
The Insurance Age Podcast: 3 April 2020
Insurance Age commissioning editor, Laurence Eastham, and news editor, Ida Axling, discuss the top stories of the week.
Subscribe to our daily newsletter for all the latest news
Most read
- Brokers expect bold first move from Aviva's new leader Amanda Blanc
- MGAs under threat as insurers set to crackdown
- Aviva Ireland GI CEO launches legal proceedings against the provider - report
- WTW calls shareholder meeting on Aon deal
- From a public health crisis to a public relations crisis – Where does the BI buck stop?
- Saga confirms 300 redundancies
- Blog: What challenges await new Aviva CEO Amanda Blanc