Plea for Government to reduce IPT on travel insurance
PJ Hayman slams "shocking" rate of IPT
PJ Hayman, the travel insurance provider, has called on the Government to lower the 17.5% insurance premium tax (IPT) that is payable on all travel insurance.
This rate was initially introduced in an attempt to deter travel agents from giving holiday discounts on the condition that travel insurance was purchased as part of a package, thereby forcing customers to pay more for their travel insurance and use a specific provider.
However, PJ Hayman argues that this rate is not only 2.5% higher than
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