Biba welcomes "big win for brokers" on IPT
Biba’s David Sparkes says the broker trade body engaged with the government "at length" against proposals that brokers could be made liable for any unpaid IPT, a proposal that HMRC has confirmed it will not take forward following its IPT consultation.
The British Insurance Brokers’ Association (Biba) has welcomed the “long-awaited” response to the HM Revenue & Customs’ consultation on Insurance Premium Tax (IPT).
Biba’s head of compliance and training, David Sparkes, commented: “Biba responded in the strongest terms to this HMRC consultation against proposals it contained that brokers could be made liable for any unpaid IPT where they used IPT unregistered insurers and for IPT being introduced on brokers’ administration fees.
“We engaged
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