Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Code of conduct definition

What does Code of conduct mean? A code of conduct is the written standard of behaviour expected of office-holders or members. In local government it sets rules on integrity, conflicts of interest (including disclosure/registration of interests), gifts and hospitality, use of position, confidentiality, respect/bullying, and decision-making. It provides the benchmark for complaints, investigations and sanctions. England: The Localism Act 2011, s 27 requires each relevant authority to adopt and publicise a code consistent with the Seven Principles of Public Life, with disclosure of disclosable pecuniary interests governed by the Relevant authorities (Disclosable Pecuniary Interests) Regulations 2012. The former framework under the Local Government Act...

UK Insurance Premium Tax (IPT): legislation, scope, rates, exemptions, location of risk, registration, returns, assessments, penalties, appeals and anti-avoidance

Published by a LexisNexis Tax expert

Practice notes

$imgtext$

IPT is an indirect levy on insurance premiums. Unless an exemption applies, IPT is imposed as a percentage of the premium paid on particular categories of insurance policies issued by particular categories of insurers that cover risks situated in the UK. The economic burden of IPT is usually carried by the policyholder, yet the tax itself is accounted for and paid to HMRC by the insurer by reference to three-month accounting periods. Strictly, the premium includes IPT. As a result, the legislation differentiates between the premium and the ‘Chargeable amount’ (the amount before IPT is added). The premium equals the chargeable amount plus IPT. For further details on what ‘premium’ means for IPT purposes, see: Premium below. IPT is due at 12% of the chargeable amount, the standard rate, unless the premium falls within the higher rate of 20%.

Legislation and guidance

The main sources of legislation are:

the Finance Act 1994 (FA 1994), and
the Insurance Premium Tax Regulations 1994, SI 1994/1774 (IPT Regs)

The legislation is supplemented by HMRC guidance in Notice IPT1 and the HMRC IPT manual. Finance (No 2) Act 2023 (F(No 2)A 2023) also introduced a provision specifying that regulations made under Part...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Web page updated on 22/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...