Summer Budget 2010 Introduction Income Tax Tax Credits and Benefits National Insurance Contributions Employees Savings Capital Gains Tax Inheritance Tax Corporation Tax Business Tax Value Added Tax Insurance Premium Tax Other Measures Tax Tables National Insurance

Insurance Premium Tax Rates of Tax To match the increase in VAT, the higher rate of IPT will rise from 17.5% to 20% on 4 January 2011. Higher rate IPT is charged on insurance contracts which are sold with VATable goods, such as extended warranties on household appliances and cars, and also on travel insurance. The new rate will apply to premiums received or policies written by the insurer from 4 January onwards. The standard rate of IPT, which applies to general insurance products such as household and motor insurance, will go up from 5% to 6% at the same time.