Consumers oblivious to IPT, survey reveals
A Consumer Intelligence survey commissioned by Insurance Post has shown that insurance premium tax is both poorly understood and unpopular, with only 30% of adults aware of its existence and 71% against the burden of the tax being passed on to consumers.
Insurance Premium Tax is currently paid on all general insurance products, and although the government’s IPT guide website describes it as a “tax on insurers”, firms can decide whether to pass on the
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