Insurance Premium Tax increase
3rd September 2015
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During this year's budget, the Chancellor increased the Insurance Premium Tax (IPT) from 6% to 9.5% with effect from 1st November 2015.
 
This will affect all insurance premiums from businesses to consumers.
 
Insurance Premium Tax is a government levy charged on all insurance premiums and unlike VAT is not recoverable.
 
The new rate will hit all policies including Home and Motor insurance.
 
The insurance industries, including the British Insurance Brokers Association (BIBA) have slammed the increase as it will affect millions of policy holders.
 
Now is a good time to review your current arrangements with Andrew at Friar Street Insurance.
 
Friar Street Insurance
'Morningside'
11a Graham Road
Great Malvern
Worcestershire
WR14 2HL

Tel: 01684 569255
E: info@friarstreetinsurance.co.uk

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Gavin O

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