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Germany: New premium tax identification number

The German tax authority is issuing new premium tax identification numbers for registered entities.

Effective from 1 November 2017, entities registered to administer and pay German premium tax will be issued with a new tax identification number.

This will affect the Lloyd’s Market in two ways.

1. Lloyd’s will have a new premium tax identification number

Lloyd’s new German premium tax identification number is 807/V90807004451.

This must be shown on Lloyd’s policy documentation provided to the insured where Lloyd’s underwriters have received and settled the tax.
In the exceptional instances where tax is paid by another party, it is their tax identification number that must be shown (see below).

2. Third parties administering German premium tax will have a new identification number

As set out in Market Bulletin Y5093, if German premium tax has been settled by a third party (e.g. a German broker) the following information is required to be captured by Xchanging: 

  • The amount of gross premium and tax charged in original (local) currency.
  • The name, address and tax identification number of the person paying the tax on the Lloyd’s underwriters’ behalf.

In addition, the party settling the tax must have formal authority from the underwriter to do so. 

Xchanging will have instruction to ensure that the third party’s tax identification number provided is in the new format. 

Failure to provide any of this information will result in Xchanging rejecting the work package leading to potential delays to the business and premium being processed.

If you have any queries, please contact Lloyd’s Tax Department

Charlie Dyer

Indirect Tax Advisor

+44 (0) 207 327 6836