Editor's comment
At first glance, the Budget should be a definite positive for brokers.
The Treasury has decided to step back from its decision to implement Insurance Premium Tax on broker fees.
However, it appears the tax will continue to apply to insurance that is not underwritten on an individual basis - see add-on legal expenses cover. For anyone who is selling these policies on any kind of scale, that's a lot of tax. Alternatively, brokers could stop charging a fee altogether but when you consider that can be over £20 a policy, that's a lot of revenue to lose.
Another aspect
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