Insurance Premium Tax IPT 2023

Published / Last Updated on 06/04/2023

Insurance Premium Tax IPT 2023 
(06/04/2023 to 05/04/2024)

General Insurance, Household Insurance and Motor Insurance

  • 12% of the taxable premium is paid in tax. 
  • This tax applies to all general insurance policies such as household and motor.
  • Was 10% before 01/06/2017.

Travel Insurance, Mechanical Breakdown Insurance, Television and Car Hire Insurance

  • 20% of the taxable premium is payable.
  • Travel insurance premiums, mechanical breakdown insurance and insurance sold with television and car hire.
  • Was 17.5% before 05/01/2011.

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