Brokers call on HMRC to reform IPT
Broker boss wants IPT to become VAT as the industry responds to HMRC's consultation into how the IPT operates.
Brokers have called for a reform of the Insurance Premium Tax (IPT), after HM Revenue & Customs launched a call for evidence on the operation of the tax last week.
Mark Bower-Dyke, chairman and chief executive officer of Be Wiser, told Insurance Age that he would prefer it if IPT became VAT.
He added: “At the moment it’s just on the cusp of being a completely neutral change that wouldn’t affect the HMRC, because of the increase they will get.
“But if they raise the IPT again they’ll never be
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