Category: 'premium'

Following George Osbourne’s summer budget announcement in July 2015, we published an article outlining the imminent changes to Insurance Premium Tax (IPT) and what it would mean to insurance consumers across the UK. From 1st November 2015, IPT rose to 9.5%, a 3.5% increase from its original rate of 6%.  Since then, millions of people have been forced to pay an increased premium for their insurance cover as providers look to compensate for the increased tax rate.  

You may have heard about some changes being made to insurance premium tax rates in the recent budget. We've put together a little information on what this is and what it will mean to you.