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Insurance Premium Tax
Chancellor of the Exchequer, Phillip Hammond
28
NOV
2018

Relief that Insurance Premium Tax wasn’t raised in Budget

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There was relief all round the insurance industry when the Chancellor, Phillip Hammond, kept Insurance Premium Tax (IPT) at 12% in the recent budget. However, industry leaders Association of British Insurers (ABI) and British Insurance Brokers Association (BIBA) will still...
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Multi storey car park
31
OCT
2018

October brings good news for motorists

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Last week saw the third reading of the Civil Liability Bill in the House of Commons which was passed with only minor amendments. The Bill seeks to limit the cost of whiplash claims and is now expected to become law in 2020. Once implemented it should help to reduce the cost of...
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30
OCT
2018

Insurance regulation – too much?

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Is too much regulation stifling the insurance industry? #DeriskingTheFuture
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Chancellor of the Exchequer, Phillip Hammond
30
NOV
2017

No rise in IPT in 2017 budget

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Chancellor Phillip Hammond resisted the urge to tweak Insurance Premium Tax (IPT) and Pensions Tax Relief in this month’s budget following successful lobbying by the insurance industry. After arguing for no further increases in Insurance Premium Tax and stability for...
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IPT raises £m
30
NOV
2016

Rise in IPT will hit everyone

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The announcement in the Autumn Statement of another increase in Insurance Premium Tax (IPT), from 10% to 12%, has brought a furious response from all quarters of the insurance industry. Director General of the Association of British Insurers Huw Evans said: “Yet another increase...
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