All the updated news related to insurance premium tax

All the news related to insurance premium tax updated in real time

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Personal Finance

Average motor insurance premium £157 higher at end of 2023 than a year earlier

The average price paid for motor insurance in the final quarter of 2023 was around a third, or £157 in cash terms, higher compared with a year earlier, according to the Association of British Insurers (ABI). Between October 1 and December 31 2023, ...

31 Jan 2024 at 10:48

Personal Finance

Relief should be given on tax that affects insurance costs say industry bodies

Relief on a tax which affects the cost of insurance should be granted to some sectors, a body representing brokers is urging. This relief could, for example, support people living in impaired high-rise cladded buildings and help businesses to ...

09 Mar 2023 at 18:40

Personal Finance

Insurers call for ‘hidden in plain sight’ tax to be cut

Two-thirds (67%) of people have little or no knowledge of tax which is “hidden in plain sight”, according to the Association of British Insurers (ABI). Insurance premium tax (IPT) applies to most general insurance policies including motor, ...

29 Feb 2024 at 18:29

Personal Finance

ABI urges cut to tax adding nearly £100 to motor and home insurance cost

A tax is typically adding nearly £100 to the annual cost paid by consumers for motor and combined buildings and contents home insurance policies, according to an industry body. The Association of British Insurers (ABI) released the ...

16 Nov 2023 at 07:37

Personal Finance

Insurance premium tax should be cut in Spring Statement, say brokers

Insurance premium tax (IPT) should be cut in next week’s Spring Statement to help encourage take-up of policies at a time when living costs are surging, brokers have urged. Insurance is an essential means of managing risk and ...

17 Mar 2022 at 10:55

Personal Finance

Record £4.6bn in property insurance payouts made this year, figures show

A record £4.6 billion in property insurance claims was paid out in the first nine months of 2025, according to data from members of the Association of British Insurers (ABI). Claims payouts, helping households and businesses ...

25 Nov 2025 at 11:08

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