What is Insurance Premium Tax (IPT)? IPT is a tax imposed by HMRC on general (both personal and commercial) insurance premiums. Prior to 1 June 2017 there were two rates of IPT. The first of these was a standard rate of 10% which applied to general insurances (such as motor, buildings and contents and commercial… Read more »
Tag: Increase
Ogden Rate Change – The Implications
It was announced earlier this year that the Ogden discount rate has been reduced from 2.5% to -0.75%, and the change is now in full effect but just what does this mean for you and your insurance premium. This is one of the most significant changes facing the insurance industry in some time and will… Read more »