In the Budget speech the Chancellor also confirmed that there will be a further increase to Insurance Premium Tax (IPT). IPT will increase from 9.5% to 10%.
This has implications for many personal and corporate insurances, and from an employee benefits perspective particularly for healthcare insurances.
Many will recall that IPT increased significantly only last year - please see this link for details of that increase and things that employers should be thinking about in this respect.
Best regards
Steve
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