IPT hits £4.5bn in record half year

This figure represents a 13% rise in premiums collected compared to the same period last year, this accounts for more than £503 million in additional revenue collected. In September 2024, a total of £73m was collected, compared to £71m in the same month in 2023. The receipts for the half-year have risen sharply over the last decade, ten years ago, in 2014/15, the total receipts were £1.5bn. Five years ago, in 2019/20, the figure hit £3.2bn. Cara Spinks, head of life and health, Broadstone, said: "As we head towards the Autumn Budget, the temptation for further hikes to be made to I...