Insurance Premium Tax

Treasury written question – answered on 10th December 2002.

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Photo of Mr Andy King Mr Andy King Labour, Rugby and Kenilworth

To ask the Chancellor of the Exchequer

(1) when he last reviewed insurance premium tax;

(2) what plans he has to (a) reduce and (b) cap insurance premium tax.

Photo of Stephen O'Brien Stephen O'Brien Shadow Paymaster General

To ask the Chancellor of the Exchequer

(1) what assessment his Department has made of the effects of a reduction in insurance premium tax;

(2) whether the review of employers' liability insurance announced in the pre-budget report will consider the possibility of reducing insurance premium tax.

Photo of Ruth Kelly Ruth Kelly Financial Secretary, HM Treasury

As with all taxes, Insurance Premium Tax is kept under review and any changes are announced in the annual Budget.

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