Insurance Premium Tax (IPT)
Health news: MCD trust fund scheme offers brokers alternative route into PMI
Medical Care Direct (MCD), part of the Skipton Group, has launched a scheme which offers brokers an alternative path into the private medial insurance (PMI) sector.
Power hour: A flood defence drought
The coalition has already announced that flood defence spending is to be cut. With the Statement of Principles due to run out in 2013 this month's discussion focuses on the possible impact for insurance. Emmanuel Kenning reports from Manchester.
Industry voices worries over VAT rise
Following the rise in the rate of Value Added Tax (VAT) and insurance premium tax (IPT) Peter Hayman, director at travel insurance specialist P J Hayman, has called for the standardisation of tax across all forms of insurance.
2010 review: A year of living cautiously
The economy grew, rival political parties unexpectedly started working together and personal lines rates even hardened, although plenty of surprises and setbacks meant that 2010 was far from plain sailing, writes Andrew Tjaardstra.
Slow insurer processing could mean a backlog of IPT charges
Brokers could be left to foot the bill if insurers choose to apply the Insurance Premium Tax (IPT) increase from the date it hits their books, according to the British Insurance Brokers' Association (Biba).
News review: October
The founder and chairman of direct insurer Esure, Peter Wood, revealed that 2014 would be the earliest date that the company would launch an initial public offering.
Westfield absorbs tax increase and holds rates firm
Westfield Health has announced it will not immediately pass on the 1% rise in insurance premium tax (IPT) to policyholders - a decision set to cost the not-for-profit health insurance provider an estimated £530,000 per year.
P J Hayman warns of unpredictable travel insurance rates
Specialist travel insurance provider P J Hayman has forecast higher rates for scheme holders and brokers with travel insurers revising and renewing schemes after the summer holidays.
Power hour: A cooperative coalition?
This month's power hour assesses the impact the Con-Dem Government has already had on insurance and debates how it will continue to influence the industry in the future. Liz McMahon reports.
Industry anticipates further IPT rises to catch up with EU levels
Industry experts have warned of further Insurance Premium Tax (IPT) hikes as the Government attempts to bring UK tax levels into line with the rest of Europe.
New government: Coalition consequences
The new government has already announced the end of the Financial Services Authority and an Emergency Budget full of spending cuts and tax rises. Emmanuel Kenning looks at the implications for insurance brokers.
News analysis - Emergency Budget: Chancellor's axe and tax
Emmanuel Kenning reviews economists' reactions to the announcements in the Emergency Budget.
Confusion on UK IPT increase
Tax compliance services firm, TMF Group, has highlighted the market confusion surrounding HMRC’s policy following the Budget announcement of an increase in IPT to 6%.
Industry divided over repercussions of rising IPT
The increase in Insurance Premium Tax (IPT) announced in the Government's emergency Budget has met with mixed reactions.
Budget hits brokers hard
Brokers face a raft of additional costs following the coalition Government's emergency budget.
IPT and VAT changes will have significant impact on brokers
The Insurance premium Tax (IPT) and VAT changes announced in the emergency budget will have far-reaching consequences for brokers and insurers beyond the initial pain to policyholder’s pockets, according to Kevin Kiernan, director of personal lines,…
Emergency Budget 2010: IPT rise will not impact on rate hikes says Bluefin boss
Stuart Reid, chief executive, Bluefin Insurance Services, said the IPT standard rate increase announced by as part of the emergency Budget would be welcomed by many.
Emergency Budget 2010: Travel insurance provider slams gulf in IPT rates
Specialist travel insurance and schemes provider, PJ Hayman has hit back at the rises in insurance premium tax (IPT) after Chancellor of the Exchequer, George Osborne, announced an increase from 5% to 6% on products such as motor and home while raising…
Emergency Budget 2010: CGT and IPT rise meets mixed reactions
As part of the coalition government's emergency Budget, Chancellor George Osborne has announced increases in capital gains tax (CGT) and insurance premium tax (IPT).
Emergency Budget 2010: Biba fears IPT rise will lead to cuts in cover
The British Insurance Brokers' Association (Biba) said it is concerned that consumers and businesses will be hit by increasing insurance costs.
Emergency Budget 2010: IPT to rise
Chancellor George Osborne has announced that insurance premium tax (IPT) will rise from 5% to 6% while the higher rate of 17.5% will increase to 20%.
Emergency Budget 2010: Corporation tax to be cut, IPT to increase, VAT to rise to 20%
The Chancellor George Osborne has today given his Emergency Budget.