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Our IPT services

TMF Group's team of IPT professionals provide the specialist, technical knowledge and industry expertise to handle even the most complex IPT requirements, supported by a global network of wholly owned offices. TMF Group can help you achieve IPT compliance through a variety of solutions and services. From our market-leading software, IPT Quote, through to our outsourced compliance services, bespoke captive solutions, consultancy and IPT training – we have the knowledge, expertise and industry experience to provide the support that ensures your compliance.

How we can support you

Fast, accurate and consistent IPT calculations.

IPT Quote is TMF Group’s proprietary global insurance tax database and calculation engine, providing detailed tax information and an inbuilt tax calculator for use by risk managers, brokers and insurers involved in complex and evolving multinational insurance programmes.

This software will revolutionise your IPT calculations and compliance processes – simplifying and automating procedures, as well as reducing risks and errors.

Developed in close collaboration with the insurance industry, IPT Quote is endorsed by the London and International Insurance Brokers’ Association (LIIBA). A steering group of key industry professionals guide the ongoing development of the system to ensure it meets the evolving needs of the industry.

Worldwide, more than 5,000 insurance professionals in 100-plus markets now use IPT Quote. They are supported by TMF Group’s IPT centre of excellence and a global network of local compliance experts in more than 125 offices.

Local compliance and expert support – centrally coordinated.

TMF Group was the world’s first – and is now the largest – independent provider of fiscal representative and agency services.

Our 125 offices around the world include IPT specialists in 36 European centres, the US, Australia and Singapore, co-ordinated by our IPT centre of excellence. TMF Group provide a complete native language IPT compliance service, with all the local expertise and insight you’ll need to keep on top of regulatory developments wherever you write business.

A carefully planned onboarding process begins with an audit of your pre-existing arrangements and pending tax authority deadlines, alongside reviewing your requirements and products in detail, for accurate mapping to TMF Group’s global rates database, IPT Quote.

Our IPT centre of excellence acts as your single point of contact to solve cross-border challenges, while ensuring delivery of consistent, complete and efficiently coordinated compliance services.

The administrative burden of IPT liabilities can be complex and time consuming for captive insurance companies providing multi-jurisdictional cover.

Our IPT specialists support the identification and application of the captive’s insurance against the global tax rates database housed within the tailored captive-specific version of our software tool, IPT Quote.

IPT Quote Captive models the tax implications of complex programme structures across multiple territories and creates IPT cost estimates at the quotation stage, facilitating accurate, compliant invoicing across all relevant territories once the programme is bound. A central account team coordinates and works alongside our network of local offices to ensure timely and compliant tax return submissions in every jurisdiction.

Our bespoke end-to-end service for captives includes an element of complementary IPT consultancy services to support ongoing compliance.

Beyond the territories in which we provide compliance services, IPT Quote Captive’s global rate tables provide a window on the way business is written in local markets worldwide, along with the potential insurance tax responsibilities and requirements, helping captives make informed decisions around programme structure and local policy requirements.

TMF Group’s IPT practitioners have the knowledge, industry experience and global reach to provide bespoke support on all aspects of IPT compliance.

We provide IPT consultancy services to insurance companies, specialist insurers, brokers, cover holders and policyholders.

Our consultancy services, led by a team of experienced professionals in our centre of excellence, provide advice and support for all aspects of IPT compliance, including:

  • review of insurers’ IPT processes, including data collation for reporting requirements
  • identifying tax rates applicable to specific insurance products, including policy wording reviews and provision of rate tables per line of business or per territory
  • application of tax legislation, including, but not limited to, location of risk, tax points, coinsurance rules and taxable bases
  • obtaining binding rulings of tax authorities on specific issues
  • projects or assignments required on an ad-hoc basis.
Build and maintain knowledge in the constantly evolving domain of indirect tax.

We can provide a wide range of IPT training courses, delivered by subject matter experts. These courses provide attendees with practical insight into relevant indirect taxation matters, refreshing and adding to existing technical knowledge.

With tax authorities strengthening their position, the introduction of new rules or changes to existing tax regimes can range from changes to rates through to increased reporting requirements.

At TMF Group, we strongly believe it is important to stay up to date with these changes. Even a small revision to taxation rules could have a significant impact on an insurer’s position and pose a risk to insurance company’s margins or reputation.

As a professional services firm and leading expert in the field of IPT, TMF Group has developed valuable expertise, knowledge and a detailed understanding of IPT legislation and processes. Our global network of tax specialists allows us to sustain strong relationships with local tax authorities, monitor tax changes and maintain our unrivalled knowledge.

If you are interested in bespoke or in-house IPT training sessions, get in touch. We will be able to deliver specific courses tailored to your company needs.

The IPT steering committee, run by TMF Group on behalf of a cross-industry delegation, plays a key role in the highly technical and evolving world of multinational insurance.

We have been bringing together major industry players for many years, to discuss international IPT challenges facing the insurance market, and to develop the road map for the ongoing development and refinement of our proprietary software tool, IPT Quote.

The steering committee has been instrumental in driving key system developments within IPT Quote, including treatment and application of:

  • co-insurance and vertical placements
  • dual stamp function
  • financial interest clauses
  • policy type calculations
  • core data capture functionality.

All TMF Group IPT clients are automatically granted committee membership. Quarterly meetings are held in London, with annual events in Brighton and Frankfurt, that attract senior tax figures from the insurance industry across UK and Europe.

Why choose TMF Group for accounting and tax services?

You need your accounting and tax processes to be efficient, scalable and adapted to your business. Our in-country experts and localised technologies can help you reduce costs, manage complexity and mitigate the risks associated with cross-border compliance.

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We make a complex world simple

TMF Group is a leading provider of critical administrative services, helping clients invest and operate safely around the world. More than 10,000 colleagues in 125 offices across 86 jurisdictions provide local expertise. Our locations cover 92% of world GDP and 95% of FDI inflow.

We are a key part of our clients’ governance, providing the accounting, tax, payroll, fund administration and legal entity management services essential to their success. We make sure rules are followed, reputations protected and operational compliance maintained. We work with the majority of the Fortune Global 500, FTSE 100 and top 300 private equity firms.

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