Blog posts

Tax Alert: France - Further Increase to the IPT Rate on Legal Expenses

Nov 24, 2015 23:40 GMT Impendulo Limited The French Assembly have proposed plans to increase the IPT rate on policies covering legal expenses from 11.60% to 12.50% from the 1st January 2016. A further increase to 13.40% from the 1st January 2017 is also being considered. This is yet to be confirmed. We will continue to keep clients up to date on the progress of this change.

Tax Alert: France - Increase to the Contribution Required for the Victims of Terrorism

Nov 24, 2015 20:30 GMT Impendulo Limited The French Authorities have confirmed that the amount to be contributed to the fund for the victims of terrorism will increase from €3.30 to €4.30 per contract from the 1st January 2016.

UK Focus: Upcoming Changes in the UK Insurance Tax and Compliance System

Oct 15, 2015 14:32 BST Impendulo Limited Due to the numerous upcoming changes to the United Kingdom insurance tax and compliance regime, here at Impendulo we thought it would be beneficial to summarise these in a single report accompanied by our suggested courses of action.

Tax Alert - San Marino - Aviation Insurance to Be Made Exempt

Sep 04, 2015 17:26 BST Impendulo Limited We can confirm that as per the San Marino delegate decree 133, Aviation insurance in San Marino will be made exempt from insurance premium tax as of the 21st December 2015.

Tax Alert - Greece - Further Clarification on the New IPT Laws (Ongoing)

Jul 17, 2015 14:42 BST Impendulo Limited ​We have sought clarification regarding the changes to IPT exemptions in Greece under the new laws and can now provide an update on the situation.

Tax Alert Update - Greek IPT Changes to Take Immediate Effect

Jul 16, 2015 23:21 BST Impendulo Limited ​Further to recent notifications and the Greek parliament approving the controversial deal, here is the impact of the law that was passed through the Greek Parliament yesterday (L. 4334/2015, article 1, paragraph 3) iro Insurance Premium Tax. Significantly the trigger date for Law 4334/2015 is today the 16th July 2015.

Tax Alert Update - Greece - VAT on Insurance Premiums Will Not Be Levied

Jul 14, 2015 16:33 BST Impendulo Limited ​Things are moving fast in Greece as expected. The draft wording of the new laws have just been published and it looks like there was no need to be concerned as VAT on Insurance premiums will not be levied.

Tax Alert - Greece - VAT on Insurance Premium?

Jul 14, 2015 12:16 BST Impendulo Limited ​Whilst the 'Grexit' seems less likely now, the ramifications of the deal and the small print is being worked through. Impendulo understands that one of the measures currently under review or near to reaching agreement between the Greek Government and the Financial Institutions for the re-financing of the Greek Debt includes VAT becoming applicable on Insurance contracts.

Tax Rate Alert: UK - New IPT Rate Treatment Clarified

Jul 10, 2015 15:25 BST Impendulo Limited Following the budget announcement that the lower IPT rate in the UK will increase from 6% to 9.5% from November 1st 2015 - new guidance has now been published.

UPDATE: Greek Pension Fund (TEAAPAE) - Our advice is still to do nothing

May 22, 2015 13:20 BST Impendulo Limited ​This week (May 18th, 2015), in a trustworthy insurance newsletter, the TEAAPAE (Greek Pension Fund) and EAEE (Greek Insurance Companies’ Union) reached an interim settlement, that until the matter is resolved all EAEE members will pay 60% of what they paid for the same month in 2014.