Breaking News – Insurance Premium Tax Increase

By November 23, 2016

The new Chancellor, Phillip Hammond has just finished delivering his Autumn Statement, and with it, announced a further increase to Insurance Premium Tax (IPT).

IPT is set to rise from 10% to 12% in June 2017, the third increase in less than two years. BIBA (The British Insurance Brokers Association) have slammed the increase as ‘Outrageous’, having previously lobbied parliament, demanding no further increases.

Kingsbridge will be commenting on this and the Chancellor’s other announcements in an Autumn Statement round up shortly.

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