Tax
Emergency Budget 2010: IPT to rise
Chancellor George Osborne has announced that insurance premium tax (IPT) will rise from 5% to 6% while the higher rate of 17.5% will increase to 20%.
Emergency Budget causes City jitters
As the Chancellor puts the final touches to his emergency Budget speech, new research from BDO suggests that the City is still feeling nervous about the impact of a coalition government and some international businesses have one eye on the door.
Report puts UK national debt at nearly £5trillion
The Institute of Economic Affairs has estimated that the national debt including pension liabilities and likely liabilities to be incurred by the government in respect of the banking sector is £4.8 trillion (333% of GDP).
PJ Hayman calls for IPT standardisation
PJ Hayman, specialist travel insurance and Schemes provider, has called on the new Government to reassess the level at which Insurance Premium Tax (IPT) is charged on travel insurance.
Business confidence dented by forthcoming Budget
According to latest Economy Watch survey by the Forum of Private Businesses, confidence has been impacted by fears that increases in the Budget culd hit small businesses hard.
Biba calls for freeze on Insurance Premium Tax
The British Insurance Brokers’ Association (Biba) is urging the Government not to increase the 5% rate of Insurance Premium Tax (IPT) on insurance products in its next Budget on 22 June 2010.
Moorhouse targets £5m GWP broker acquisition
Welsh broker Moorhouse has announced that it is looking to complement its organic growth with the acquisition of an insurance broker up to £5m gross written premium (GWP).
FBP welcomes coalition policy pledge
The Forum of Private Business claims thousands of smaller businesses could benefit from measures outlined in the coalition agreement between the Conservative and Liberal Democrat parties published today.
Majority of SMEs back moves to cut deficit
More than three quarters of small firms back moves to tackle Britain’s record deficit, a new Forum of Private Business survey has found.
IIB relaunches legal advice line
The Institute of Insurance Brokers (IIB) has relaunched its legal advice line for members.
E-commerce: Concern for rural brokers as Broadband Tax plans ditched
Rural broker business could suffer after the Government scrapped Broadband Tax plans designed to enable high-speed internet to be rolled out across the country.
News: Extended penalty regulations to lead to harsher fines
Brokers have been warned they face heftier fines from the taxman following the introduction of a new penalty regime.
Political parties adopt differing tax approaches on run up to General Election
Louise Somerset, tax director at RBC Wealth Management, says the approach to tax is all about "stability" for Labour, "competitiveness" for the Conservatives, and "equality" for the Liberal Democrats.
PB Week: The row over National Insurance
Darling and Osborne have differing views and want your vote
Editor's comment
At first glance, the Budget should be a definite positive for brokers.
Your letters: From the Broker Forum, March
Quinn Insurance enters administration
Hung parliament could stifle economic green shoots
Brokers have been warned that the lack of a clear winner in the UK's forthcoming general election is the biggest threat to the green shoots of economic recovery.
Brokers cautioned to take note of fixed-premium IPT exception
Despite the Chancellor's u-turn on the imposition of IPT on intermediary fees, brokers have been warned that they may still apply to add on policies such as legal expenses and breakdown cover.
SME plans fail to impress
The 2010 Budget proposals to ease the burden for small to medium-sized enterprises (SMEs) have received a lukewarm reception from the business community.
Budget 2010: IPT broker burden reduced
Biba and the IIB have both expressed satisfaction following the publication in today's Budget of the final legislation extending the scope of Insurance Premium Tax (IPT).
HMRC issues VAT changes via podcast
HM Revenue & Customs (HMRC) has launched its first ever Super Podcast, to alert businesses to major changes in the way they file and pay VAT, PAYE and corporation tax
Management Clinic: Troublesome premium tax
Since the Chancellor made his announcement on extending insurance premium tax in December, nothing much more has happened. Should we be charging IPT to brokers' fees or doing nothing until there is a further government statement?
Your letters: Fear not, Equity is at hand
I refer to the lead article in last month's issue, 'Brokers in the spotlight after surprise IPT ruling' (Insurance Age, January 2010, p1), in which it states: "Without any prior discussion with the industry, chancellor, Alistair Darling announced in his…
Brokers in the spotlight after surprise IPT ruling
Closure of tax loophole could hit brokers' pockets