What is Insurance Premium Tax?

Find out about Insurance Premium Tax (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.

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MORE TH>N is a trading name of Royal & Sun Alliance Insurance plc, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register No. 202323).