In his Autumn Statement, the Chancellor announced that the UK standard rate of insurance premium tax (IPT) will be increased by 2 percentage points from 10% to 12% on 1 st June 2017
In making his announcement, the Chancellor noted that UK IPT is “lower than in many other European countries, and half the rate of VAT”. 

We will provide further updates as and when they are available.

If you wish to discuss this matter further or require more information please contact Joseph Finbow at joseph.finbow@fiscalreps.com