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Budget 2016 Insurance Premium Tax Rises to 10%

Wednesday, 16th March 2016

In his Budget Speech today, the Chancellor of the Exchequer, George Osborne, has announced an increase in the rate of Insurance Premium Tax from 9.5% to 10%. The new rate will apply to all new policy premiums, renewals and any mid-term increases. This uplift follows an increase from 6% which was applied from November 2015. …