Record Q1 for IPT

£2.1 billion collected

Cameron Roberts
clock • 2 min read

Insurance Premiums Tax receipts in June 2024 reached £69 million, bringing the total for Q1 2024/25 up to £2.1 billion.

This new figure represents a £235m rise in IPT collections year-on-year, the all-time high figure for the opening quarter of the year is 12.5% higher than the same period in 2023. The difficulties faced by the NHS is a contributing factor to the rise in receipts, alongside rising premiums paid. The health service had a waiting list of 7.6m patients at the end of May 2024. Brett Hill, head of health and protection, Broadstone, said: "NHS waiting lists remain at near-record highs and with 7.6 million stuck in the backlog for treatment, demand for private healthcare has risen to record l...

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