You will hopefully be aware that the Chancellor announced in his budget of 23rd November 2016 that the standard rate of Insurance Premium Tax (IPT) would, from 1st June 2017, increase to 12%. This only applies to the standard IPT rate. Other rates, such as those affecting travel products, will remain unaffected by this change.

Download the guide below to help you interpret how the changes should be implemented. Please be aware that dates shown are based on information available at the time of publication and are therefore subject to change. The information provided is based on UK General Insurance Ltd knowledge and understanding of regulatory issues at the date of publication.