Special type of tax imposed by the government to be paid on all insurance polices sold within the United Kingdom This tax may be automatically incorporated into the price of your policy.
also referred to as IPT is the tax imposed by the Government on almost all insurance products sold in the UK. This works out at about 5% on motor insurance policies.
also referred to as IPT, insurance premium tax is the tax imposed by the Government on almost all insurance products sold in the UK excepting life insurance.
A 5% UK tax imposed on car insurance premiums. Exempt areas are: Isle of Man, Jersey and Guernsey.
A government tax that is charged as a percentage of insurance premiums.
A tax imposed on most non-life insurance premiums.
Tax imposed on most insurance policy premiums (it does not apply to life insurance policies).
a Government tax on all insurance policies, which is collected by us on their behalf.
UK tax imposed on most non-life insurance premiums.
the Finance Act 1994 introduced this new tax on most general insurance risks located in the UK. All amounts stated on documentation should make clear the amount of tax payable.
This is a tax which is payable on insurance policies taken out or renewed since 1/10/94. The current rate of IPT is 5%. Most premiums include ipt within the quotes but watch out for the term “plus ipt”. Also note that travel policies have a rate of ipt of 17.5% for individuals although businesses only pay the standard rate of 5%. Also, ipt cannot be reclaimed from the Inland Revenue in the same way as VAT can.
Tax levied on general insurance premiums currently payable at 5
this is a tax imposed by the government on most UK insurance products. Life insurance products are usually exempt from this tax. IPT will automatically be included in your premiums or any quotation you might receive.
A tax levied on most non-life insurance policies.
This is a Government tax charged as a percentage of insurance premiums.
