Posts Categorized: Insurance Premium Tax

Insurance Premium Tax is on the increase from 6% to 9.5%

Posted by & filed under Insurance Premium Tax.

Who is likely to be affected All individuals and businesses that purchase insurance which is not exempt from Insurance Premium Tax (IPT) and it affects all insurers that provide non-exempt insurance cover for UK risks. The measure will increase the rate of IPT paid on premiums which are taxed at the standard rate of IPT […]