Insurance Premium Tax - WTF is that about?
22 August 2004, 11:23 AM
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Insurance Premium Tax - WTF is that about?
Having a look at my home insurance policy cos I'm trying to get a cheaper one. I just noticed that I pay £5 a month to the govt. in IPT, just on building and contents insurance for my home.
wtf is the justification for that? I really can't see any reason that I should have to pay the govt for the "luxury" of having my home insured. Has this tax always existed?
wtf is the justification for that? I really can't see any reason that I should have to pay the govt for the "luxury" of having my home insured. Has this tax always existed?
22 August 2004, 12:04 PM
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This is a tax on the premium you pay for most general insurance policies. It was initially introduced at 2.5% on 1st October 1994 but was increased in stages to the current rate of 5% in July 1999
Chip.
Chip.
22 August 2004, 12:17 PM
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Ok, but what's the purpose of it? Aren't taxes supposed to in some way reflect something that the govt. does for us?
Otherwise they may as well apply random taxes to anything that costs money...
...oh hang on, that is what they do already.
Otherwise they may as well apply random taxes to anything that costs money...
...oh hang on, that is what they do already.
22 August 2004, 12:54 PM
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I think it was an EU directive?
Magnificent Blair and his Outstanding Government kept it to a minimum and give it to the Hospitals, Schools and the needy .... I, for one, am proud to contribute to those in dire straits - as I, and everyone else on here, swim in wealth unknown a decade ago!
Remember the disaster that was the Tories???????? EXACTLY!!!!
Pay up and shut up moaning!!
Pete
Magnificent Blair and his Outstanding Government kept it to a minimum and give it to the Hospitals, Schools and the needy .... I, for one, am proud to contribute to those in dire straits - as I, and everyone else on here, swim in wealth unknown a decade ago!
Remember the disaster that was the Tories???????? EXACTLY!!!!
Pay up and shut up moaning!!
Pete
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22 August 2004, 01:14 PM
#8
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Chip, what??
I certainly hope you are contributing to the best government, led by the best leader in living memory?
We are all doing very nicely, thank you - we should all give some of our new wealth back to the country, surely?
Pete
I certainly hope you are contributing to the best government, led by the best leader in living memory?
We are all doing very nicely, thank you - we should all give some of our new wealth back to the country, surely?
Pete
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