Insurance to rise in June 2017 with IPT increase

28 Feb 2017

Insurance Premium Tax (IPT) is set to increase to 12% from 1 June 2017.

This is the latest of a number of recent increases to IPT and means that the tax on insurance premiums will have doubled in less than two years.  The IPT increase will affect anyone in the UK who is taking out an insurance policy on or after 1 June 2017. So if you take out a new policy or renew before that date then the current 10% rate will still apply for the first year of your cover.

If you already have an active policy the price will remain the same until your annual renewal on or after 1 June 2017.

If you have any questions please do not hesitate to contact your Account Handler on 0118 940 6175.