Insurance Premium Tax Increase Due 1st November 2015

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Insurance Premium Tax Increase

Insurance Premium Tax (IPT) is due to increase from 1st November 2015, under measures announced in the recent Summer Budget.

The new standard rate will be due on premiums treated by the legislation as received on or after 1st November 2015, except where insurers operate a special accounting scheme, in which case, the new standard rate is only applied to premiums relating to risks covered by the terms of a contract entered into after 1st November 2015. From 1st March 2016, the new standard rate applies to all premiums, regardless of when the contract was entered into.

Currently the IPT standard rate is 6%. The measure will increase the rate of IPT paid on premiums, which are taxed at the standard rate of IPT by 3.5%, to 9.5%.

We have been aware of increase since the Summer Budget announcement and your Property Manager will have made provisions for this when preparing future service charge budgets.

 
 
COVID-19

Following government guidance and in an attempt to keep our colleagues safe we have moved our staff to homeworking where possible. To ensure safety to our team and the wider community we have taken the decision  that our offices should no longer be open to the public and we would request that you do not visit our offices but communicate with us via telephone or email.

It is our intention to keep any disruption to our services to a minimum, however, as colleagues comply with the government directive to self-isolate the inevitability of significant staff and contractor illness and therefore absenteeism means that some disruption is anticipated. It is our considered opinion that delays should be expected and we would therefore ask our clients and leaseholders to be as understanding as possible during these tough times for all.

We will endeavour to ensure as little disruption possible however, during this period, we will be focusing on the essential aspects of the safety, security and running of essential services at your building whilst maintaining a degree of response to lessee queries. We therefore need your assistance in ensuring that communications with our office are limited to matters that require urgent attention during this very stressful and anxious time for the nation.

We do anticipate potential delays and disruption with the postal service, therefore if you have not already opted to receive all correspondence from us by email, we would strongly recommend that you contact us at admin@burnshamilton.co.uk providing your permission to ensure you are safely receiving all critical correspondence.

To ensure your calls continue to come through to us we have made some changes to our phone system. In order to get through to your key contact please note the extension numbers below for our property teams. Simply enter the extension number on your phone when prompted.

For Andrew Hargadon & Imani Robinson use Ext. 554

For Brian Colins & Ana-Maria Iacob use Ext. 550

For Dave Wheeler use Ext. 502

For Holly Tizzard & Virginia Contreras use Ext. 558

For Lizzy Ellis, Tim Richards, Rafaela Ribeiro & Nathalie Barfoot use Ext. 559

For Peter Williams & Leila Sam-Daliri use Ext. 555

For Philip Awesome & Margaret Vernam use Ext. 556

For Richard Payne & Emma Preston use Ext. 553

For Tim Townsend & Donna Vernam use Ext. 552

For the latest government advice, please visit https://www.gov.uk/guidance/coronavirus-covid-19-information-for-the-public

We would thank you in advance for your understanding and cooperation during this unprecedented period.