Insurance Premium Tax


Also found in: Acronyms.

Insurance Premium Tax

A tax paid by insurers and insurance brokers in the United Kingdom. Insurers and brokers must pay the tax on all policies other than long-term insurance, such as life insurance, reinsurance and export finance.
References in periodicals archive ?
The insurance premium tax is a civilised tool that has been implemented in most European countries," he said.
A Vermont state representative wants to get more information about how long-term care insurance premium tax credits are actually working.
The IRS released proposed regulations in August (REG-131491-10) implementing the health insurance premium tax credit, which was enacted last year by the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act and is effective starting in 2014.
The bill includes language to standardize the reporting, allocation, and payment of non-admitted insurance premium tax on multi-state risks.
According to the AA, the increase was less than the previous quarter but added to the cost of driving ahead of fuel duty and VAT increases in January as well as the 1% increase in Insurance Premium Tax.
There's a good argument to be made for New Hampshire with a low insurance premium tax and no personal income or sales tax.
With the lowest insurance premium tax in the Northeast, no personal income tax or sales tax, and ready access to skilled labor, businesses and employees alike enjoy the many rewards of working and playing in the Granite State.
The Transit Hub Tax Credit legislation provides a tax credit against New Jersey Business Tax, Insurance Premium Tax and Gross Income Tax over a 10-year period for tenants relocating to Waterfront Corporate Center III.
With Sarbanes-Oxley, the landmark Kvaerner tax case--which clearly defined insurance premium tax liability for the European Union--and other regulatory and legislative developments, interpretation of the legality of various program structures continues to evolve.
The new Insurance Premium Tax rate - which is equivalent of a 2p in the pounds hike in income tax - also affects cover sold with electrical appliances and TV and video rentals.
Health Insurance Premium Tax Credit: Individuals and families will receive premium tax credits to help defray insurance costs, increasing access to health coverage for millions of middle class American families.
com It follows a Tory change to the Ogden discount rate - used to calculate per- sonal injury payouts - alongside a rise in Insurance Premium Tax.
Full browser ?