Insurance premium tax (IPT)

Insurance premium taxes can be complex to manage and time consuming to administer.

TMF Group’s suite of IPT products, services and technology solutions can simplify even the most complex IPT calculations. 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.

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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:

A&T: Insurance premium tax

IPT Quote Rate Checker

IPT compliance services

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 120 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.

IPT captive solutions

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.

IPT consultancy services

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

IPT training

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.

Business team meeting

IPT steering committee

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.

Don’t just take our word for it – read what our clients have to say:

Why choose TMF Group for IPT services?

Remove the complexity from IPT calculations and compliance

Contact us today
Headshot of Paul Hampton

Paul Hampton

IPT Quote programme director

Having spent much of his career working in transformation and technology change, Paul joined TMF Group in 2010 to become the driving force behind IPT Quote, our proprietary global insurance premium tax software. He now leads a highly experienced team of specialists providing a complete IPT service: calculation, compliance and consultancy.


Headshot of Karen Jenner

Karen Jenner

IPT client engagement director

Karen is ACII qualified and has more than 25 years of technical and client management experience in the insurance industry, ten of them specialising in IPT. Her work with insurers and brokers in the London market has given her wide experience of IPT compliance in global and unconventional insurance programmes.


Susie Crew

IPT compliance director

Susie qualified as an accountant with Ernst & Young in 1994 and spent the early part of her career as an internal auditor in banking and insurance, moving into IPT in 2008. Strong client management experience and technical knowledge of IPT compliance enable her to work closely with companies in the European and London markets.


Headshot of Ladislav Hanak

Ladislav Hanak

IPT compliance director

Ladislav has specialised in IPT since 2010. His extensive experience solving complex IPT challenges has helped him build strong working relationships with European tax authorities in Germany, Austria, Switzerland and other jurisdictions. He has a master’s degree in economics (specialising in finance, banking and investment) and speaks six European languages, including English, German, Slovak and Czech.


Headshot of Joseph Finbow

Joseph Finbow

IPT assurance director

Joseph is a chartered accountant who started his career with KPMG. He now has more than a decade of experience in handling global insurance premium tax issues. His strong platform of knowledge and experience supporting captive insurers, P&I clubs and other specialist insurers is complemented by his role researching and maintaining global insurance premium tax information.


Headshot of Steve Norman

Steve Norman

IPT compliance director

Steve has worked in the IPT field since 2012, joining TMF Group in 2015. In his current role Steve works with a portfolio of insurer clients and he is heavily involved at every stage of the IPT compliance process for many insurers.


Headshot of Christophe Bourdaire

Christophe Bourdaire

IPT Quote content director

Christophe Bourdaire is responsible for the management of global tax rate content in our proprietary insurance premium tax software, IPT Quote. Christophe has over 10 years of experience in insurance premium tax compliance, encompassing the management of captive insurer’s tax compliance and providing consultancy and training services to the insurance industry.


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.

With more than 10,000 colleagues in 125 offices across 86 jurisdictions, all working to the same high standards of service and security, we provide our clients with local expertise where it is needed most. 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.

Our global service model and technology platform put our clients in control of their portfolio of entities and global locations. The data insights we deliver keep them on top of emerging regulation, the status of their own activity and any points of risk.

We serve corporates, financial institutions, asset managers, private equity and real estate investors, and family offices. Our clients include the majority of the Fortune Global 500, FTSE 100 and top 300 private equity firms.