IPT collects £1.26bn in February 2026

The figures detailed that the taxation collected £1.26bn in February 2026. This represents a £130 million increase year-on-year, at which point IPT had raked in £8.82bn. Last financial year's total figure hit £8.88bn. Cara Spinks, head of life and health, Broadstone, said: "Rising claims in workplace health benefits are a key driver behind this trend, set against sustained pressure on NHS capacity and persistently high waiting lists. "Employers are increasingly relying on products such as private medical insurance and health cash plans to support staff, as long-term sickness and ch...