Broadstone warns against IPT hikes in Autumn Budget 2025

As part of the Budget, the Government is reportedly exploring measures to raise revenue following "strained public finances", Broadstone said, with leading political figures having called for increased tax on private medical services. IPT is currently set at 12% and is charged on most insurance policies, including PMI. Broadstone said a higher rate of IPT would increase costs for both employers and employees, potentially leading to lower take up of the benefit and leading to reduced coverage levels across the workforce. An increase to IPT would have a "double whammy" impact for compan...