Insurance

5 / 06 / 2017
Tagged
Insurance

As from the 1 June 2017 the standard rate of Insurance Premium Tax (IPT) will increase from 10% to 12%. All policies renewing on or after this date will incur the additional 2% charge.  

IPT is set by the UK Government and may be subject to change.  

1 / 12 / 2016
Tagged
Insurance

In the Autumn Budget Statement the Chancellor announced Insurance Premium Tax (IPT) will increase from 10% to 12% from 1 June 2017. The rise will be the third increase since November 2015 and means IPT will have doubled from 6% to 12% in just over 18 months. 

All new policies renewing on or after 1 June 2017 will be taxed at the new rate of 12%. 

13 / 10 / 2016
Tagged
Insurance

As from the 1 October 2016, Insurance Premium Tax (IPT) which is levied by the UK Government on various types of insurance policies has increased by 0.5% to 10%. The new rate will apply to all policies renewing on or after this date. 

14 / 04 / 2016
Tagged
Insurance

We're delighted to announce that Laura Mowat has joined our Insurance Department. Laura brings considerable insurance experience having previously worked for Swinton Insurance for the last 12 years and before that with Aviva for 10 years. If you have any questions regarding an existing insurance policy or require advice on a new policy, please give Laura a call to discuss.

18 / 03 / 2016
Tagged
Insurance

In the Budget statement this week the Chancellor announced Insurance Premium Tax (IPT) will increase from 9.5% to 10% from 1 October 2016. All insurance policies renewing on or after this date will be taxed at the new rate. The extra money raised will help support flood defence systems around the UK. 

19 / 01 / 2016
Tagged
Insurance

If you require a copy of the full policy wording of your common buildings insurance, please contact our Insurance Department who’ll be happy to send you an electronic copy, free of charge. If you should require a paper copy there will be a small charge. All owners will automatically receive a summary of cover at each renewal, giving the key elements of the policy.  

11 / 08 / 2015
Tagged
Insurance

In the summer budget the Chancellor announced the rate of Insurance Premium Tax (IPT) will increase from 6% to 9.5% for all new insurance policies from 1 November 2015. IPT is the equivalent of VAT for insurance products therefore will impact on the cost of insurance for policyholders.