IPT haul up to £6.8bn in FY25/26

£43m collected in December

Cameron Roberts
clock • 2 min read

HM Revenue and Customs (HMRC) data revealed that the Insurance Premium Tax (IPT) haul has risen to £6.8 billion in the first nine months of this financial year 2025/26.

The figures show that IPT generated £43m in revenue for the Treasury in December 2025, which represents a £10m downturn compared to the same month in the previous year. Whilst the individual month may be down, overall, the IPT haul has grown by £115m compared to the first nine months of FY24/25, at which point the figure stood at £6.7bn. Cara Spinks, head of life and health, Broadstone, said: "Workplace health insurance claims continue to rise, and employers are increasingly turning to private medical insurance and health cash plans to manage the productivity drain caused by long term...

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

FCA Market Study: PDG 'expected different conclusion' on loaded premiums

FCA Market Study: PDG 'expected different conclusion' on loaded premiums

“We’d like to see greater transparency"

Jaskeet Briah
clock 12 February 2026 • 3 min read
PMI sees highest new complaints for protection: FOS

PMI sees highest new complaints for protection: FOS

Q3 2025/26

Jaskeet Briah
clock 05 February 2026 • 2 min read
The perils of misreading the regulator

The perils of misreading the regulator

Loaded premiums and MS24/1

Tony Müdd
clock 03 February 2026 • 4 min read