58 % increase in insurance

[StephF]

Did anyone get the email today saying government is to increase tax on insurance by 58%?not sure what this means, what does anyone else know/think?

[openspaceman]

Did anyone get the email today saying government is to increase tax on insurance by 58%?not sure what this means, what does anyone else know/think?

 

It will add about £6 to my premium with arborisk.

 

I'm just on a minimum PL as I don't do much now but I do wish they'd remind me more than one day before expiry.

[roseyweb]

Yer sounded more like a ukip manifesto

 

I was not impressed

[Nick Connell]

It's nothing to get excited about.

[Brushcutter]

Little costs that soon add up. Around £100 a year extra for the same thing.

[hamdogg]

More costs for the working man

[Steve Bullman]

Its not much...the '58% increase' statement is a bit over dramatic. It's 58% increase in the tax on your premium, not a 58% increase in the premium as I believe some people are mistaking it for.

[Brushcutter]

Its not much...the '58% increase' statement is a bit over dramatic. It's 58% increase in the tax on your premium, not a 58% increase in the premium as I believe some people are mistaking it for.

 

From 6% to 9.5% on premium tax. Its not massive but still going to cost me an extra £100 a year. If it was 58% on all premiums i'd hate to imagine the number of people who wouldn't bother insuring.