Biba: Action needed to prevent IPT rise
Trade body urges brokers to make noise to stop fresh IPT rise in the Autumn Budget.
Steve White, chief executive of the British Insurance Brokers’ Association (Biba), has warned of the “serious threat” that insurance premium tax (IPT) will rise again in the 2018 Autumn Budget on 29 October.
In last year’s Autumn Budget Chancellor of the Exchequer Philip Hammond announced that he would keep the tax at 12%, which was welcomed by the sector after it had seen IPT double in just two years.
But White explained that this could change this year after the government committed to
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