Total insurer IPT bill close to £30bn
Insurers handed over £2.4bn in insurance premium tax in the year 2010/11, a rise of more than 6% on the previous year (£2.253bn), government figures reveal.
The payment made brings the total the industry has paid in IPT since it was introduced in October 1994 to nearly £30bn.
The calculations show the industry accrued a liability of £2.613bn in 2010/11
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