IPT07615 - Accounting for Insurance Premium Tax: »Ź¹ŚĢåÓżapp special accounting scheme: Definition of
This is one of the aspects of IPT where officers in the Department have an opportunity to operate IPT in a flexible and helpful way. »Ź¹ŚĢåÓżapp tax point under the special accounting scheme is the premium written date.
Regulation 20(1) gives the following definition of premium written date-
āpremium written dateāā� means the date as at which the insurer makes an entry in his accounts showing the premium as due to him.
»Ź¹ŚĢåÓżapp following sections look at how this rule can be applied in practice.