Heard the rumours?
The Autumn Budget may result in a tax hike on insurance. And that’s bad news for UK businesses.
Research commissioned by BIBA (British Insurance Brokers’ Association) highlights worrying headlines:
- Insurance premium tax (IPT) already costs British businesses £4.7 billion a year.
- Higher IPT means less incentive to take up cover like cyber insurance.
- Which means more businesses could end up underinsured – and seriously exposed.
We could keep quiet. But instead, we’ve raised our concerns with our local MP to take to the Chancellor – because protecting our clients always comes first.
Read a copy of our letter to local MP David Baines below, and if you’re looking for a brokerage that’s always got your back, why not get in touch with the team?