What is Insurance Premium Tax?

Insurance Premium Tax, or IPT, is a tax charged by the UK Government that’s payable on most insurance products.

The total you pay for your insurance will include IPT.

IPT increased from 9.5% to 10% on 1 October 2016. This is a result of a change in Government legislation.

It will increase to 12% from 1 June 2017.

Insurance Premium Tax, or IPT, is a tax charged by the UK Government that’s payable on most insurance products

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