Biba concern over IPT changes
Government to apply insurance premium tax to fees on personal lines insurance
The British Insurance Brokers’ Association (Biba) has today written to its members to highlight the changes to Insurance Premium Tax (IPT).
The Chancellor announced in his 2009 pre-budget report (PBR) that, with effect from 9 December, 2009, IPT Tax has to be applied to fees charged under a separate contract in connection with personal lines insurance.
The Chancellor brought in the IPT anti-avoidance measure in his 2009 PBR to close the loophole following the HomeServe case.
Eric Galbraith, Biba
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