Insurance Premium Tax IPT 2024
Published / Last Updated on 06/04/2024
Insurance Premium Tax IPT 2024
(06/04/2024 to 05/04/2025)
General Insurance, Household Insurance and Motor Insurance
- 12% of the taxable premium is paid in tax.
- This tax applies to all general insurance policies such as household and motor.
- Was 10% before 01/06/2017.
Travel Insurance, Mechanical Breakdown Insurance, Television and Car Hire Insurance
- 20% of the taxable premium is payable.
- Travel insurance premiums, mechanical breakdown insurance and insurance sold with television and car hire.
- Was 17.5% before 05/01/2011.