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Insurance Premium Tax on the increase again

15 Jan 2017

In the Autumn Statement, Philip Hammond stated Insurance Premium Tax (IPT) would be increased from 10% to 12% with effect from 1st June, 2017. This is the third increase in two years.

The effect this has on your premiums is quite significant as the following example demonstrates.

If you are moving to Australia with a sum insured of £ 10,000 and were quoted an insurance rate of 2.00% plus IPT by your removal company then the total cost would be £ 200.00 for the actual insurance PLUS an additional £ 24.00 tax.

With Insure Your Move all our rates are INCLUSIVE of IPT so when you get a quote from ourselves you can be assured there are no hidden additional costs.