'Raid on the responsible' - 12% IPT increase takes effect

Has doubled in 19 months

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ABI's James Dalton: "It is time to call a halt to this raid on the responsible."
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ABI's James Dalton: "It is time to call a halt to this raid on the responsible."

Millions of people and businesses will be hit with increased insurance bills as the Government's increase in Insurance Premium Tax (IPT) takes effect from today.

This latest increase now means the rate of tax paid on most insurance policies has doubled, from 6% in 2015 to 12% now - in a period of only 19 months. The move will affect the 1.9m private medical insurance...

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