What is Insurance Premium Tax?

Find out about IPT and what it means for you.

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, and then again to 12% from 1 June 2017. These increases resulted from a change in Government legislation.