Insurance Premium Tax (IPT) receipts hit £4.49bn in the five months leading up to August 2026, according to data from HMRC.
The updated figure included a haul of £1.52bn collected in August 2026, with has risen approximately £223m year-on-year. The August 2025 IPT figure was £1.3bn for the month. At this point in 2025, IPT has raised £4.5bn for the Treasury, approximately £11m higher than the current year's total. Cara Spinks, head of life & health, Broadstone, said: "IPT continues to generate significant revenues for the Treasury, with receipts remaining on an upward trend as demand for insurance products grows and premiums increase. In FY25/26, IPT raised £9.04bn, exceeding the previous year's full...
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