Insurers seek to make up shortfall after hike in IPT
Insurers with policyholders paying by monthly instalments look set to be worst hit by the standard 1% hike in insurance premium tax, announced in Tuesday's budget.
According to Richard Asquith, managing director of TMF VAT & IPT, the 1% rise on IPT to 6% will amount to an extra £500m a year for the Treasury on top of the £2.5bn it currently generates through
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