A further rise in the rate of standard UK Insurance Premium Tax (IPT) was announced yesterday by the Chancellor Philip Hammond in his Autumn Statement. Effective 1st June 2017 the rate of IPT charged on most insurance premiums will increase to 12%.
Organisations and individuals faced a hike in IPT when the government increased the rate from 6% to 9.5% effective 1st Nov 2015. This was increased once more to 10%, which came into effect on the 1st Oct 2016.
Access Underwriting have announced a tie up with PFD Financial Services to expand the offerings they provide to the charity sector.
Simon Hickman, managing director at Access commented ” as Access Underwriting have grown in the charity sector, we found that many of our larger clients were seeking advice on pensions, employee benefits, keyman insurance and other protection related products. We had used PFD Financial on an informal basis and had joint meetings with clients which were very productive. PFD Financial are very down to earth, independent and offer sound professional advice without the pushiness that used to be associated with some parts of the financial services profession. We are delighted to announce our official tie up with PFD who will be able to offer financial advice to our clients.
NicK Horsley, managing director at PFD said “I am delighted to work with Access to continue their work with charities giving the same no nonsense advice service that the clients of Access are used to.”