IPT08210 | IPT audit assurance: legal provisions: the law

From HM Revenue & Customs · Insurance Premium Tax

This section briefly outlines what legal powers officers hold.

Before 1 April 2010

All references in this sub-section are to the Finance Act 1994, as amended.

### -	### Power or legal requirement	### Location of relevant legal provision
1	Powers to require registrable insurers to keep records	Regulation 16, IPT Regulations 1994 (SI 1994/1774)
2	Powers to require the insured to keep records when subject to liability notice action	Regulation 41, IPT Regulations 1994 (SI 1994/1774)
3	Powers to require anyone (employees, directors, etc) concerned in an insurance business to furnish information about taxable contracts	Subparagraph (1), Paragraph 2, Schedule 7
4	Powers to require brokers and agents to furnish information about insurance contracts (There is no provision in IPT law requiring a broker, or other non-insurer, to keep records, except in 2 above.)	Subparagraph (2), Paragraph 2 Schedule 7
5	Powers to require information from an insured business	Subparagraph (3), Paragraph 2 Schedule 7
6	Powers to require anyone concerned in an insurance business to produce records about insurance contracts for inspection	Subparagraph (1), Paragraph 3 Schedule 7
7	Powers to require brokers to produce records about insurance contracts for inspection	Subparagraph (2), Paragraph 3 Schedule 7
8	Powers to require production of records from a person with a lien over the records	Subparagraph (4), Paragraph 3 Schedule 7
9	Powers to make copies or take extracts of records	Subparagraph (6), Paragraph 3 Schedule 7
10	Powers to remove records	Subparagraph (7), Paragraph 3 Schedule 7
11	Power to enter at any reasonable time the premises of an insurer, broker or an insured business	Subparagraph (1), Paragraph 4 Schedule 7
12	Power to enter by force in event of a serious fraud	Subparagraph (2)(a) and(b), Paragraph 4, Schedule 7
13	Power, after entry of premises by warrant, to seize and remove documents or other things	Subparagraph (3)(b), Paragraph 4, Schedule 7
14	Power, after entry by warrant, to search people	Subparagraph (3)(c), Paragraph 4, Schedule 7
15	Power of arrest	Subparagraph (6), Paragraph 4, Schedule 7
16	Powers of access to third party information (bank records etc) in the context of offence investigation	Paragraph 4A, Schedule 7
17	Powers of assessment	Section 56(1), Finance Act 1994
18	Power to require security	Paragraph 24, Schedule 7

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From 1 April 2010

A new framework for Information and Inspection Powers was put into operation by HMRC for IPT. Please refer to Compliance Handbook (CH21060) for further details.