Policy paper
Insurance Premium Tax: increase to standard rate
This tax information and impact note affects all households and businesses that purchase insurance which is not exempt from Insurance Premium Tax (IPT).
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Details
This information has been updated please read Changes to Insurance Premium Tax: increase to standard rate.
The measure will increase the rate of IPT paid on premiums which are taxed at the standard rate of IPT by 3.5%. The new standard rate will be due on premiums treated by the legislation as received on or after 1 November.