SMEs at risk of underinsurance if IPT rises next week
SME businesses could be forced to scale back insurance cover leaving them at risk of underinsurance, if the government increases insurance premium tax in the Budget next week.
A recent study by Aviva saw the rise in IPT would see 31% of SME owners reduce non-essential cover, while 36% would drop these insurance covers altogether.
The standard rate of IPT has increased from
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