Insurance Premium Tax is to increase again

9th June 2016

IPT is to rise again by 0.5% making 10% and will come into effect on the 1st October.  This had already increased from 6% to 9.5% on 1st November 2015 and Chancellor George Osborne has said the extra money raised from the 0.5% increase would be put towards improving flood defences across the North of England