Autumn Budget Statement 2016
Insurance Premium Tax Increase
Following the previous insurance premium tax (IPT) increase from 9.5% to 10%, the chancellor of the exchequer announced a further increase in IPT to take effect from 1st June 2017.
The tax rate will be increased from the current 10% to 12% on all insurance policies renewing on or after this date.
For further information, please click on the attached government website link:
View on gov.uk