IPT increase next month

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IPT increase next month

Be prepared for the IPT (insurance premium tax) increase next month.

If you have a policy which has a start or renewal date on or after 1st June 2017 there will be an increase to 12%.

The last increase was on October 1st 2016 where the rate was raised to 10%.

This means the IPT rate will have doubled after the July 2015 Summer Budget which had a 6% rate.

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