Budget 2018: Scullion 'relieved' following IPT freeze

Chancellor Philip Hammond today announced that insurance premium tax (IPT) rates are to remain at the current level of 12%. The decision has come following an open letter from four major private medical insurance (PMI) providers calling for the freeze, supported by Association of Medical Insurers and Intermediaries (AMII) executive chairman, Stuart Scullion. The AMII chairman would next like to see an IPT exemption for health insurance entirely. "While we are relieved that Philip Hammond has observed the resistance from our industry to insurance premium tax (IPT), we are calling on...