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Employers should act now before the increase in Insurance Premium

Health insurance is one of the most popular employee benefits in the UK. However from 1 November 2015 policyholders will see a significant spike to their renewals as George Osborne’s increase in Insurance Premium Tax (IPT) takes effect. The rise, announced in the last budget, sees IPT go up by over 50 per cent, from 6 per cent to 9.5 per cent. This will affect most policies taken out or renewed after the beginning of November.