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Insurance Premium Tax will increase yet again !

The Chancellor has announced in his 2016 Autumn Statement that Insurance Premium Tax will increase yet again to 12% from June 2017.

Written by Paul Brown on 23rd November 2016

Insurance Premium Tax will increase yet again !

The Chancellor has announced in his 2016 Autumn Statement that Insurance Premium Tax will increase yet again to 12% from June 2017.

This will be the third increase since 1st November 2015 and will represent a doubling of the tax in a little over 18 months.

Franklands’ Director Paul Brown said this is an outrageous tax on protection and prudence that will hurt businesses and individuals alike


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