HMRC has published guidance on the procedures for paying Insurance Premium Tax, covering the various payment methods available to taxpayers and the timeframes for funds to be received and processed by the authority. The guidance sets out how long payments take to reach HMRC depending on the method chosen, helping businesses plan their tax submissions accordingly. This information applies to all organisations liable to pay Insurance Premium Tax on relevant insurance policies.
Source: HMRC (GOV.UK) – Read the original