Tag Archives: IPT

insurance premium tax IPT

Insurance Premium Tax (IPT) increases

On 1st June 2017, Insurance Premium Tax (IPT), a tax on general insurance premiums, will increase from 10% to 12%. The increase to the IPT will apply to all policies…

insurance premium tax IPT

Insurance Premium Tax set to increase to 10%

As you will be aware, last November saw the first substantial increase to Insurance Premium Tax (IPT) from 6.5% to 9.5%. Subsequently, in a following Budget announcement the Government has…

2016 March Budget (2): Increase to IPT

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…