Little-known insurance stealth tax to raise £46BILLION in the next five years – more than road tax

 A little-known insurance stealth tax is set to raise £46billion for the Government over the next five years – more than road tax.

Insurance premium tax (IPT) adds 12 per cent to the price of car, home and pet insurance, and 20 per cent on travel insurance and many forms of add-on cover.

IPT is one of the least well-known taxes in Britain, with 67 per cent of adults having no idea what it is, according to the Association of British Insurers.

Despite the lack of knowledge surrounding it, IPT is fast becoming one of the most expensive stealth taxes....<<<Read More>>>..