UK premium tax to ‘at least double’
The UK insurance industry will closely monitor tomorrow's
emergency budget amid growing expectation that Chancellor of the
Exchequer George Osborne will boost government coffers by hiking
the rate of insurance premium tax.
The tax on general insurance premiums is currently set at two
rates, with a standard 5 percent rate and a higher 17.5 percent
rate for travel insurance and some insurance for vehicles and
domestic electrical appliances.
But a panel of industry leaders at the Association of Insurance and...
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