Since 2003 FiscalReps has provided a range of premium tax compliance solutions, covering Outsourcing, Technology, Consulting & Training to over 320 clients, including;
In the EU, insurers are the primary tax payers. FiscalReps have delivered outsourced premium tax and VAT compliance solutions to many insurers who are writing business throughout the EU under the Freedom of Services provisions.
Many global insurers have large networks of offices but often have gaps in tax compliance. FiscalReps are able to plug gaps in tax compliance. Additionally FiscalReps' innovative software solutions are able to provide consistent and up-to-date premium tax rate information across large global networks.
Whilst most syndicates rely on Lloyd’s to meet their IPT responsibilities, we are asked to review the taxes charged and we provide consulting services at the front end. We are also active in providing VAT compliance and consulting to this market segment.
Captive insurers benefit by outsourcing the non-core activity of premium tax compliance and VAT to FiscalReps, who can perform the work efficiently and effectively.
Captive managers with many clients under management benefit from a consistent approach to premium tax compliance using our outsourced VAT and premium tax services and software applications for premium tax calculations.
Risk Managers & Insurance Buyers
With premium tax rates in many territories often above 15% the tax cost can become a material element to the overall cost of securing insurance coverage. FiscalReps' consulting products can challenge premium allocations and premium tax calculations to ensure that taxes are accurate.
Brokers & Intermediaries
Although brokers and intermediaries are not tax advisers, they are often required to have knowledge of premium taxes and their implications. FiscalReps' software, consulting and training products can equip all insurance professionals with the skills and information necessary to service their clients to the best possible standards.
FiscalReps' client list includes;
22 of the top 100 UK insurance companies
20 of the FTSE Eurotop 100 companies
39 of the Fortune Global 500
Additionally, in 2014, FiscalReps submitted over 17,000 IPT returns across the EU-EEA region – all filed on time, with a total tax value of over EUR 217.1 million on behalf of over 320 clients; a client base which has grown consistently year-on-year.