The government must commit to stability for Insurance Premium Tax (IPT) and reappraise tax treatments of private medical and cash plan policies, AMII chairman Stuart Scullion has urged.
Speaking at the AMII Summit in Westminster, Scullion said he was pleased that no further immediate IPT increases had been announced in the Autumn Budget. However, he said "it was time to keep up the pressure." He added: "Recent research by Cebr, commissioned by Bupa, suggests insurance premium tax (IPT) is contributing to thousands of individuals giving up their policies, resulting in nearly 200,000 customers cancelling their policies in the past three years, "Every 1% increase in Insurance Premium Tax is leading an estimated 31,000 health insurance customers every year to depend s...
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