Insurance Premium Tax to rise

Chancellor George Osbourne has announced in the budget that Insurance Premium Tax (IPT) is to rise from the 4^th January 2011.

The standard rate of IPT is to increase from 5% to 6%, with the higher rate (applicable to Travel Insurance) increasing from 17.5% to 20%.

All policies taken out or renewed from this date will be subject to the increases.

To find out more about Insurance Premium Tax, please click here*

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