Insurance Premium Tax (IPT)
Blog: A quick-fire reshuffle
Post news editor Jen Frost reflects on Sajid Javid’s shock exit as Chancellor and what this could mean for insurance premium tax and the budget.
This week: The wait is over
The wait began in 2017, and many of us felt that the agonising limbo might never end. But after two and a half years, the wait is finally over. That’s right: Kesha’s new album is out today.
ABI tracker shows increase in motor premiums as calls for IPT cut amplify
The average cost of motor insurance rose to its highest level in the final quarter of 2019, according to research by the Association of British Insurers.
Budget 2020: What are the Chancellor's options on IPT?
Insurers have ramped up lobbying attempts to convince the government to slice the rate of Insurance Premium Tax. Post investigates why they may well have good reason to be worried it could be cranked up the other way.
Analysis: What's on the horizon for 2020?
For an industry that strives to understand and manage risk, uncertainty is not something that is relished. But with some market hardening, a final report from the Financial Conduct Authority on pricing practices and the possibility of Brexit all on the…
Analysis: Review of the Year 2019
It feels as if 2019 was an uncomfortable year for the general insurance market as it never quite seemed to grasp control of its own destiny. Wherever you look, carefully laid plans were derailed by the unexpected – and often unwanted – intervention of…
This week in Post: Deluge, diversity and misdemeanours
More than 800 houses have been evacuated due to flooding and many of those families won't be back in their home for Christmas. Flood warnings are still in place and there are reports that flood defence equipment is being stolen.
ABI and Biba at odds over ring-fencing insurance taxes for flood defences
Insurance trade bodies have found themselves at loggerheads over whether part of insurance premium tax should be ring-fenced for flood defences.
IPT becoming government's 'golden goose' as income hits record high
Government income from insurance premium tax hit a record high of £6.3bn in 2018/19, up 7% from £5.8bn collected the previous year, according to an accountancy firm.
Zurich's Tulsi Naidu on IPT as a drag on the insurance industry
Zurich's UK CEO Tulsi Naidu explains that insurance premium tax is a regressive tax, which punishes responsible business and the public for doing the right thing.
Analysis: Is the IPT review another disappointment?
The government has promised to review the application of the Insurance Premium Tax. But does the planned review go far enough?
Government launches review into 'fairness' of IPT
HM Revenue & Customs has published a call for evidence on the operation of Insurance Premium Tax to ensure it continues to operate “fairly and efficiently”.
ABI tracker shows fall in motor premiums in advance of whiplash reforms
The average cost of motor insurance fell to its lowest level in two years, according to a survey from the Association of British Insurers.
Government promises review into 'fairness' of IPT
The government will launch an operational review into Insurance Premium Tax in the coming months.
Car and home premiums increase over last quarter
Both car and home insurance premiums rose over the final quarter of 2018 according to the AA.
Analysis: Review of 2018
The spectre of Brexit loomed large over the insurance sector this year, and although the picture is still no clearer in terms of how the UK market will continue to trade with Europe after 29 March 2019, significant merger & acquisition activity was among…
Industry welcomes IPT freeze in the Autumn Budget
The industry has welcomed a freeze on insurance premium tax in the Autumn Budget 2018
Government raises £1.35bn from IPT 'stealth tax'
The government raised £1.35bn from the Insurance Premium Tax in August, the highest amount ever.
SMEs at risk of underinsurance if IPT rises next week
SME businesses could be forced to scale back insurance cover leaving them at risk of underinsurance, if the government increases insurance premium tax in the Budget next week.
85% of SMEs concerned over potential IPT tax rise
More than eight out of 10 small businesses are concerned about the possibility of a rise in the insurance premium tax, according to research.
IPT hike leads to £6bn tax windfall
The government collected £6bn from businesses as a result of the increase in the insurance premium tax, an increase of 22% on the previous year.
Analysis: Whiplash bill faces bumpy ride through parliament
Vocal opposition to the Civil Liability Bill is ramping up as MPs prepare to debate it in its second reading.
Blog: How will Paul Geddes' decade at Direct Line Group be remembered?
When Paul Geddes took over the role of CEO of Royal Bank of Scotland’s insurance business in July 2009, moving from the retail arm of the bank, and replacing Chris Sullivan, I cannot remember many getting too excited.
Motor market back in the money with best results for over 20 years
The motor insurance market has reported its best underwriting result in over 20 years, according to EY.