To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential effect of a rise in insurance premium tax on small and medium-sized enterprises.
Answered on
15 November 2017
Insurance Premium Tax (IPT) is a tax accounted for and paid by insurers based on the insurance premiums they receive. Pricing is a commercial decision for insurers, affected by a wide range of factors, such as repair costs, investment returns and risks posed. The taxes that they pay are only one of these factors.
Answered by
Treasury
Named day
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