Association of British Insurers says chancellor should resist further increases to insurance premium tax, which has doubled since 2015
The government is being urged to avoid “penalising” families and businesses with another hike in the tax on insurance policies, amid speculation that Philip Hammond may be planning a fresh increase in Wednesday’s budget.
Insurance premium tax (IPT), which is added to more than 50m general insurance policies each year, including those for cars, homes and private medical cover, rose to 12% earlier this year – which means it has doubled since 2015. However, the Association of British Insurers (ABI) said it was concerned that the government may be planning what it described as another “raid on the responsible” – the people who buy insurance in order to take care of their health, their belongings and their families.
0 Response to " Insurers fear tax rise in 'raid on the responsible' "
Post a Comment