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Insurance Premium Tax (IPT) rises to 12%

May 25th, 2017

The latest increase in the standard rate of IPT from 10% to 12% takes effect from 1st June and was announced in the Chancellor’s Autumn Statement. The rate had remained static at 6% from January 2011 to November 2015 but this latest increase is the third in the space of 18 months. It will apply to all policies incepted and any adjustments made to existing policies after 01 June 2017.

Please speak to your usual Marlow’s contact if you have any queries about the impact of IPT on your policies.

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