FiscalReps provides a unique clearing house service for IPT payments in the European Union. This effectively outsources the tax compliance process and handles the following essential tasks:
- Collection of premium data and total tax due from the client
- Checking of data to ensure that IPT calculations are correct
- Preparation of tax returns on behalf of the client
- Submission of tax returns to the local tax offices in every country via the local FiscalReps office
- Management of a dedicated client bank account into which you can deposit your taxes collected for onward settlement
- Payment of the correct amount of tax from the client bank account to each of the local tax offices
Our straightforward remedy to the headache of tax compliance delivers many important benefits:
- A cost-effective and easily managed alternative to building specialist administrative resources in-house
- A central point of contact for all IPT-related issues
- Enables insurers and captives to write business across the entire EU, including business opportunities that they might otherwise have to decline due to excessive compliance costs
- Spares insurers and captives from the growing danger of fines, litigation and reputational damage from tax noncompliance
- Completeness, consistency and flexibility of coverage across the EU
By combining a comprehensive physical network across the EU with technical knowledge, industry experience, European language skills and an efficient reporting process, we assure our clients of an unrivalled outsourced solution. With the entire compliance process driven from our UK operations centre we guarantee consistency, quality and completeness of service.
To learn more about our IPT Compliance service contact us via +44 (0)20 7663 5672.
