Insurance Premium Tax (IPT)
Broker Exchange: How has Covid-19 impacted the UK economy?
Economic expert Paul Johnson tells delegates about the UK's current economic situation and discusses what we can expect from the next few years.
Carrot calls on government to cut IPT for young drivers using telematics products
Broker says telematics insurance reduces young driver accidents by over 40% and adds that it saves on average £5m each year in lower claims costs.
Covid-19: Mactavish calls on government to help insurers through crisis
Consultancy warns coronavirus impact on insurers will lead to dramatically rising premiums and exits from business classes as it urges the government to look at a range of measures including temporarily suspending IPT.
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.
Government urged to reconsider IPT ahead of Budget
The ABI and CII are calling for a cut to insurance premium tax, whereas Biba is requesting a freeze.
ABI reiterates call for government to slash IPT
Trade body's data shows motor insurance premiums rose again in the last quarter of 2019 with increases in IPT and changes to the discount rate driving up prices.
Quizzical questions: 15 November 2019
Test your knowledge of the week's news with our topical quiz.
Biba calls for government commitment to IPT flood spending
Broker trade body wants future government to promise that money raised from the increase in IPT remains earmarked for flood defence and resilience measures.
Quizzical Questions: 2 August 2019
Test your knowledge of the week's news with our topical quiz.
IPT haul smashes records to hit £6.3bn in 2018/19
Government pulls in highest ever income from the "golden goose" tax which has more than doubled since the year 2013/14.
Biba warns that HMRC's IPT consultation may have "detrimental impact" on brokers
Trade body calls for input from members as it gears up to respond to the government.
Mike Bruce: GRP's acquisition strategy not about putting flags in the map
Group MD discusses future deals and explains why the consolidator does not see Brexit as a reason to expand outside of the UK.
Broker MP backs Boris Johnson
Craig Tracey has thrown his support behind Johnson in the Conservative leadership race but is yet to broach the topic of IPT with the former Foreign Secretary.
Quizzical questions: 14 June 2019
Test your knowledge of the week's news with our topical quiz.
Brokers call on HMRC to reform IPT
Broker boss wants IPT to become VAT as the industry responds to HMRC's consultation into how the IPT operates.
Podcast: The top five stories of the week
The Insurance Age team examine the most read stories for the week commencing 3 June 2019.
Government launches IPT review
HMRC calls for evidence from the insurance sector, admitting the current IPT model can lead to “unfair tax outcomes in the insurance industry”.
Government to launch operational review of IPT
Insurance industry welcomes review into fairness and efficiency of IPT, but the ABI pledges to continue its campaign to keep the rate from increasing further.
Quizzical questions: 2 November 2018
Test your knowledge of the week's news with our topical quiz.
12% IPT freeze welcomed but Biba calls it “pyrrhic victory”
But industry pledges to keep campaigning to stop IPT from rising again.
ABI: Freeze IPT - the “mother of all stealth taxes”
Trade body says people are paying record amounts of the tax and urges the government to keep it at 12% in the upcoming Budget.
The Blog Spot: Why #20Now for IPT might not be the only broker issue of the Budget
Ah, the pre-Budget blog. Where nothing is wrong and nothing is right because it’s all ifs, buts and maybes in the exciting game of “imagine if”.
Biba: Action needed to prevent IPT rise
Trade body urges brokers to make noise to stop fresh IPT rise in the Autumn Budget.
Quizzical questions: 14 September 2018
Test your knowledge of the week's news with our topical quiz.