Emergency Budget 2010: IPT rise will not impact on rate hikes says Bluefin boss
Stuart Reid, chief executive, Bluefin Insurance Services, said the IPT standard rate increase announced by as part of the emergency Budget would be welcomed by many.
“While we would have preferred Insurance Premium Tax (IPT) to remain fixed, the standard rate rise from 5% to 6% will be welcomed by many, especially as there had been much speculation that it could have risen as high as the new VAT rate of 20%," he added.
“Clients will be pleased for obvious reasons. Insurers will breathe a big sigh of relief because a more significant increase would have put pay to any ability to influence premium rates upwards, something not yet happening in many areas but
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