Autumn Budget 2017: No further IPT rises this year

Rate still 12%

clock • 1 min read

There will be no further increases to Insurance Premium Tax (IPT) this year, the Autumn Budget 2017 has confirmed.

The insurance industry had been urging the government to halt any further IPT rises, as the rate now stands at 12%.  In recent weeks, Nigel Evans MP, sponsored an Early Day Motion (EDM) petitioning the government to freeze IPT for the rest of this Parliament. Prior to the Autumn Budget, the British Insurance Brokers' Association had made a submission to the government describing IPT as "too high." Phil Cowell: Act fast and nullify the impact ofIPT rise AMII chairman Stuart Scullion said: "We are delighted to note HM Treasury's decision not to increase IPT in the Autumn Budget - ...

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