insurethebox calls Insurance Premium Tax illogical amid HMRC review

insurancebusinessmag | June 14, 2019

Earlier this month HM Revenue & Customs (HMRC) launched an open consultation into how the Insurance Premium Tax (IPT) operates. While HMRC’s review does not cover current IPT rates and exemptions, insurethebox sees it as the perfect opportunity to delve into the levys relevance for telematics car insurance.IPT does not distinguish between traditional motor insurance and telematics insurance, even though telematics insurance has saved millions of pounds in costs related to road collisions - and more importantly saved lives, stated Simon Rewell, road safety manager at the pioneering telematics brand.

Spotlight

We know insurance can be awfully confusing. But benefits can be very beneficial. So, to make sure you’re getting the most out of your plan, we’re breaking down the insurance lingo with this easy-to-follow infographic.

Spotlight

We know insurance can be awfully confusing. But benefits can be very beneficial. So, to make sure you’re getting the most out of your plan, we’re breaking down the insurance lingo with this easy-to-follow infographic.

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