Written Question·Treasury·UIN 82399
Insurance Premium Tax
Tabled: 15 October 2025
Answered: 20 October 2025
Named DayQuestion
Mr Richard Holden
Conservative — Basildon and Billericay
To ask the Chancellor of the Exchequer, whether she plans to increase the rate of Insurance Premium Tax; and whether she has made an assessment of the potential impact of any such increase on (a) household and (b) business insurance costs.
Answer
Lucy RigbyInsurance Premium Tax (IPT) is a broad-based tax which raises important revenue to fund essential public services including the NHS, defence, and education. The rate of IPT has been unchanged since 2017.The Chancellor makes decisions on tax policy at fisc...
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