# The Insurance Premium Tax (Non-taxable Insurance Contracts) Order 2014, Note: Explanatory note


(This note is not part of the Order)
Insurance Premium Tax (‘IPT’) is charged on premiums receivable under taxable insurance contracts. Specified contracts of insurance are exempted from IPT. Article 2 of this order provides for contracts that insure certain risks in respect of spacecraft to be exempt from IPT.
A Tax Information and Impact Note covering this instrument will be published on the HMRC website at http://www.hmrc.gov.uk/thelibrary/tiins.htm .

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Source: https://www.legislation.gov.uk/uksi/2014/2856/note (the official version)
Page: https://openlegislation.uk/insurance-premium-tax-non-taxable-insurance-contracts-order-2014/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.