IPT up to £7.6bn in 24/25

£853m in January 2025

Cameron Roberts
clock • 1 min read

HMRC data has revealed that Insurance Premium Tax (IPT) receipts stood at £853 million in January 2025.

The updated January haul brings the total 10-month IPT figure up to £7.6 billion for 2024/25. The 10-month figure is up 16%compared to the total this time last year, which stood at £6.5bn.  The January number also represents almost double the figure received in January 2024, in which HMRC reported £439m in IPT receipts. Cara Spinks, head of life and health, Broadstone, said: "With NHS waiting lists remaining well above pre-pandemic levels, individuals and employers are leaning more and more on independent healthcare services in order to protect themselves and their businesses from the...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

The COVER Review: A budget on the horizon, private healthcare and product launches

The COVER Review: A budget on the horizon, private healthcare and product launches

Week commencing 1 September 2025

COVER
clock 05 September 2025 • 1 min read
Autumn Budget 2025 set for 26 November

Autumn Budget 2025 set for 26 November

Investment and reform

Cameron Roberts
clock 03 September 2025 • 3 min read
The COVER Review: FCA updates, acquisitions and IPT

The COVER Review: FCA updates, acquisitions and IPT

Week commencing 25 August 2025

COVER
clock 29 August 2025 • 1 min read