Budget July 2015 – Insurance Premium Tax

Wednesday, July 8th, 2015

The Chancellor of the Exchequer in his budget speech today announced that from November 2015 the standard rate of Insurance Premium Tax will be increased from 6% to 9.5%. The standard rate applies to all general insurance policies (household, motor and commercial), with the exception of personal travel insurance (currently levied at 17.5%).

Insurance Services Surrey will continue to ensure that cover offered to our clients remains appropriate, whilst at the same time monitoring insurer rates and competitiveness.