CHANCELLOR PHILIP HAMMOND ANNOUNCES INSURANCE PREMIUM TAX (IPT) WILL RISE TO 12%

The UK’s Insurance Premium Tax (IPT) is due to rise by 2% to a new high of 12%, Chancellor of the Exchequer Phillip Hammond has announced in the Autumn Statement.

Taking effect from June 2017, this will represent the third increase in IPT in less than two years. In November 2015 it increased to 9.5%, and in October 2016 it increased to 10%. Continue reading →