Government’s 2015 IPT discussions revealed
Exclusive coverage of the Treasury’s talks with the Association of British Insurers.
With speculation mounting about a further increase in Insurance Premium Tax (IPT) Insurance Age can reveal the details of the discussions between the Association of British Insurers (ABI) and the Treasury about last year's rate increase.
The chancellor's 2015 Budget on 8 July saw the tax increased to 9.5% from November in a move that shocked the sector.
A Freedom of Information (FOI) request by Insurance Age can lift the lid on the discussions that followed.
Documents released show that the ABI
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
Axa updates two products
Axa UK Commercial has made enhancements to its offices and surgeries, and digital mini fleet products.
Aviva responds to Direct Line’s £10.6m fine
Aviva has confirmed it was fully aware of the ‘historical’ accounting errors that have led to the Prudent Regulation Authority hitting Direct Line Group with a £10.6m fine and stated there will be no impact on the integration or the financial benefits it expects from the takeover.
PRA fines Direct Line underwriter £10.6m
The Prudential Regulation Authority has fined UK Insurance Limited, a subsidiary and principal underwriter of Direct Line Group and now part of Aviva, £10.625m for a miscalculation of its Solvency II balance sheet during 2023 and 2024.
Sabre ‘all in’ on broker support as CEO Carter eyes growth after profit boost in 2025
Sabre is ready to grow with brokers as the provider promised the sector it “can rely on us to provide competitive prices through our part of the market through this year’” CEO Geoff Carter told Insurance Age.
Alps enhances landlord legal expenses and rent protection product
Managing general agent Alps has updated its landlord legal expenses and rent protection product, in a move designed to support landlords as they navigate the implications of the Renters’ Rights Act.
Sabre trims GWP, but boosts profit in 2025
Motor specialist insurer Sabre grew post-tax profits by 5.3% in 2025 and kept its ‘underwriting discipline’ as gross written premium shrank 14.2%.
Zurich claims top 3 market position with Generali GI arm swoop
Italian insurance giant Generali has reached an agreement to sell its Irish and Northern Irish general insurance operations to Zurich.
Pen launches into mid-market PI
Pen Underwriting has launched into the UK mid-market professional indemnity space, Insurance Age can reveal.