Amidst the clamour surrounding last year’s divisive (and final) Autumn Statement, you might have missed the news that the standard rate of Insurance Premium Tax (often abbreviated to IPT) was increased from 10% to 12%, effective from 1st June 2017.
As is often the case, time seems to have moved rather quickly since then. With the increase less than a month away it’s worth considering completing any insurance purchase you may have been putting off. Of course, if you already have insurance in place then you have nothing to worry about (although you might want to warn a friend or two!)