Insurance Premium Tax Increase Due Again From the 1st June 2017

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Insurance Premium Tax Increase

Insurance Premium Tax increase due again from the 1st June 2017, under measures announced in the recent Government Autumn Budget. This is the third IPT increase to be introduced in an eighteen month period.

The Insurance Premium Tax (IPT) new standard rate will be due on premiums treated by the legislation as received on or after 1st June 2017, except where insurers operate a special accounting scheme. From 1st June 2018, the new standard rate applies to all premiums, regardless of when the contract is entered into.

Currently the IPT standard rate is 10%. The measure will increase the rate of IPT paid on premiums, which are taxed at the standard rate of IPT by 2%, to 12%. This is in addition to the increase experienced in 2015 and 2016 which saw IPT increase from 6.5% to 10%.

We have been aware of the increase since the Autumn 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 Collins & Sebastian Perry-Symes use Ext. 550

For Dave Wheeler & Margaret Vernam use Ext. 556

For Natasha Haisaid & Virginia Contreras use Ext. 558

For Tim Richards & Rafaela Ribeiro use Ext. 559

For Linda Clarke & Leila Sam-Daliri use Ext. 555

For Lizzy Ellis & Imani Robinson use Ext. 554

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.