HMRC flags potential code of conduct for brokers in IPT consultation update
Government outlines the next steps and details responses from industry stakeholders, including brokers, insurers and trade bodies.
HM Revenue & Customs (HMRC) has stated that its consultation on Insurance Premium Tax (IPT) received 14 responses, including four from trade bodies and ten from businesses.
The consultation – Insurance Premium Tax: administration and unfair outcomes – ran between 5 November 2020 and 5 February 2021 and HMRC published a summary of responses and outlined its next steps yesterday (30 November).
Code of conduct
The government explained that responses were broadly in favour of the UK broking
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