INSURANCE PREMIUM TAX – Variable amounts charged to and payments made by persons insured under a taxable insurance contract by a trader who also paid the insurer the premium (a different, smaller, fixed amount) under the taxable insurance contract – The arrangements for the variable amounts so charged and paid entered into without the knowledge or authorisation of the insurer – whether the variable amounts chargeable to IPT on the insurer as payments received under the taxable insurance contract by the insurer – section 72(1), (1A) and (7) FA 1994 considered – held the variable amounts were not charged in connection with a taxable insurance contract, nor were they received by any person on behalf of the insurer or by the insurer – appeal allowed
Citations:
[2011] UKFTT 343 (TC)
Links:
Jurisdiction:
England and Wales
Taxes – Other
Updated: 24 March 2022; Ref: scu.443042