IPT becoming government's 'golden goose' as income hits record high
Government income from insurance premium tax hit a record high of £6.3bn in 2018/19, up 7% from £5.8bn collected the previous year, according to an accountancy firm.
UHY Hacker Young found that IPT receipts have more than doubled in the last five years since £3bn was collected in 2013/14.
In June 2017, the government increased the IPT to rate from 10% to 12%
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