'Health tax' holding back one in three UK businesses

Insurance Premium Tax (IPT) is putting health insurance ‘out of reach' for an estimated 400,000 companies in the UK, a study supported by the British Insurance Brokers Association (BIBA) and the Association of Medical Insurers & Intermediaries (AMII) has suggested. The report by Bupa comes as industry bodies call for a cut to IPT in the Chancellor's next Budget (spring 2020). Last month the Association of British Insurers (ABI) reported a 10% health insurance decline in line with the rising tax. The increased cost of the tax, which has doubled in the past five years, was found to be t...