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United Kingdom · Question · Written question

UIN 1401

Motor Insurance: Insurance Premium Tax

answeredUnited Kingdom· UK Parliament· EN

Introduced

23 July 2024

Last action

31 July 2024 · Answer

Status

Answered

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Discovery layer

Source updated

31 July 2024

Summary

To ask the Chancellor of the Exchequer, whether she plans to review Insurance Premium Tax for car insurance.

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Timeline

  1. 23 July 2024

    Written question

    To ask the Chancellor of the Exchequer, whether she plans to review Insurance Premium Tax for car insurance.

    Source: Commons

  2. 31 July 2024

    Answer

    IPT is a tax on general insurance premiums currently charged at two rates: a standard rate at 12%, including car insurance, and a higher rate at 20%.The Chancellor makes decisions on tax policy at fiscal events.

    Source: Written answer

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