ABI calls for increased competitiveness as insurance industry pays taxman £8.2bn
A more competitive and business friendly environment is needed to ensure the UK does not lose more insurance firms based here, the Association of British Insurers (ABI) has warned.
A more competitive and business friendly environment is needed to ensure the UK does not lose more insurance firms based here, the Association of British Insurers (ABI) has warned.
It comes as new figures showed insurers paid only 8.4% less corporation tax in 2008/09 than the previous tax year, against a 39% fall for the financial services sector as a whole in the same period.
The ABI said that despite this fall, insurance firms still pay the fourth highest corporation tax of any sector. In
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