Important News relating to Insurance Premium Tax

New rate of Insurance Premium Tax (IPT) – applicable from 1st November 2015

We are sure that you are aware that the rate of IPT for many classes of insurance from 6% to 9.5% on the 1st of November 2015. This will affect any sales on or after this date and will apply to all insurance premiums excluding travel insurance, which will remain at 20% IPT.

Whilst Voyager will ensure that the new tax rate will be added to prices automatically from this date within the WEBroker platform, it is important you make your customers aware that if they are obtaining a quote now and they do not buy the insurance before the 1st of November 2015 then the new 9.5% IPT rate will apply. This is particularly relevant for annual policy renewals.

The products within the WEBroker system that are affected by this change in IPT include Voyager UK & European Breakdown Cover, Car Hire Insurance, Wedding Insurance, Asian Wedding Insurance and Party Insurance.

Should you have any questions on this or any Voyager insurance policies please do not hesitate to call our broker support team on 01483 562 662 or email enquiries@voyagerins.com