Change to Insurance Premium Tax

The Government announced earlier in the year that there would be a rise in Insurance Premium Tax with effect the 1st June 2017.

Of course this date is almost upon us so all should be aware that the rise will be effective for any policies (new or renewals) with effect the 1st June 2017, IPT is rising from 10% to 12% from that date.

This affects general insurance i.e. household including buildings and contests cover, car insurance and payment protection amongst others.

Your insurer will notify you of the total cost and breakdown the cost of Insurance Premium Tax when advising of any changes to your policy/renewal.

If you want to discuss any aspect of your existing buildings, contents or other insurance please call us straight away.

We can be reached on 01525 877650, 01442 252040 or my mobile 07710 770969

or email me at advice@sbms-online.co.uk

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