IPT Rise - a reminder
A reminder for all practices that Insurance Premium Tax is increasing 2% to 12% from tomorrow, 1st June.
This means that all commercial insurance policies that incept on or after 1st June will be subject to the new rate.
Budgeting for renewal
We are aware that firms are keen to budget for their insurance costs, and Firms should be aware that this will of course impact on their Master Policy renewal later this year.
We will shortly be corresponding with all firms to ask for up-to-date information regarding partner numbers and the latest fee income figures, to help us ensure as accurate and efficient a renewal process as possible.
Firms will also be receiving their Master Policy claims 'snapshot' from the lead insurer, RSA, which of course is a significant factor in determining your PII renewal premium.
For more information about budgeting for your 2017 Master Policy renewal, Contact Us.