Insurance Premium Tax (IPT)
12% IPT freeze welcomed but Biba calls it “pyrrhic victory”
But industry pledges to keep campaigning to stop IPT from rising again.
ABI: Freeze IPT - the “mother of all stealth taxes”
Trade body says people are paying record amounts of the tax and urges the government to keep it at 12% in the upcoming Budget.
The Blog Spot: Why #20Now for IPT might not be the only broker issue of the Budget
Ah, the pre-Budget blog. Where nothing is wrong and nothing is right because it’s all ifs, buts and maybes in the exciting game of “imagine if”.
Biba: Action needed to prevent IPT rise
Trade body urges brokers to make noise to stop fresh IPT rise in the Autumn Budget.
Quizzical questions: 14 September 2018
Test your knowledge of the week's news with our topical quiz.
Government raised £6bn from IPT last year
Insurance Premium Tax haul exceeded expectations due to growth of new insurable threats.
MP Craig Tracey on IPT, Brexit and Donald Trump
Ex-broker turned MP commits to monitoring IPT spending and making sure the money goes towards flood defences.
MP Craig Tracey questions government over IPT flood spending
Biba commits to keep monitoring that funds are spent as promised.
Biba reveals extra IPT spending
Trade body confirms extra £700m raised from 2016 IPT rise has boosted flood defences in Calder Valley, Leeds, York and Cumbria.
Biba manifesto 2018: Push to prevent regulation stifling productivity
Biba calls for stability in rate of regulatory change, proportionate supervision and a global competition objective for the FCA
Market welcomes IPT freeze at 12% in Budget
However further campaigning action is urged to persuade the Chancellor to keep his hands off the "stealth tax" which has doubled since 2015.
The Blog Spot: IPT and the tech revolution
Ida Axling shares her thoughts on this year’s Autumn Budget.
Quizzical Questions: 17 November 2017
Test your knowledge of the week's news with our topical quiz.
MP tables motion in Parliament urging government to freeze IPT
Early Day Motion calls on government to make the commitment in upcoming Budget.
Sentiment survey Autumn 2017: The results
Is the industry prepared for the onset of GDPR fines or a possible insurance premium tax rise? Brokers also reveal their attitude to consolidation and specialisms
Quizzical questions: 3 November 2017
Have you been paying attention this week? Test out your knowledge with our topical news quiz.
VisionTrack launches video based telematics camera
Markerstudy-owned business says offering can be white-labelled by brokers.
IPT raises £4.8bn a year
ABI calls on government to cease this tax “raid on the responsible” and say no to further rises as report highlights lack of consumer awareness about the tax.
Modest increase in home insurance premiums
The AA Insurance Premium Index for Q3 2017 shows a small rise but includes warning that costs could increase if bad weather and IPT bite.
The Blog Spot: Brokers remain a force to be reckoned with
Insurance Age has celebrated the best in broking at the UK Broker Awards and Ida Axling sees a bright future for the sector, despite constant rumours of its impending demise.
Blockchain could “eliminate” the need for brokers
DAC Beachcroft report predicts blockchain impact, another IPT rise and increased focus on corporate governance for brokers.
IPT rise drives up home insurance premiums
Consumer Intelligence says home premiums rising at fastest rate in years.
The Blog Spot: #20Now – Is it time for a campaign to raise IPT?
But it should come with a rather huge caveat.
Motor premiums rise to highest level since 2010
The Confused.com Index, in association with Willis Towers Watson, shows impact of Brexit, IPT and the Ogden rate on the rise and warns prices could hit "record" levels.