Sector escapes IPT rise in ‘coronavirus’ Budget
The decision to keep the unpopular tax at 12% has been welcomed by the insurance market as Chancellor introduces other measures to help Covid-19 hit businesses.
The decision by Chancellor of the Exchequer Rishi Sunak, not to further increase insurance premium tax in today’s Budget (11 March) has been welcomed by the insurance sector.
Sunak has also developed some relief to help businesses affected by the rapidly spreading coronavirus.
This includes a coronavirus business interruption loan for small businesses and earlier payment of statutory sick pay for people who have been advised to self-isolate.
The government will also help organisations with
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