Insurance Premium Tax Increase Due Again From the 1st October 2016

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Insurance Premium Tax Increase

Once again an Insurance Premium Tax increase is due to take affect from the 1st October 2016, under measures announced in the recent Government Spring Budget.

The Insurance Premium Tax (IPT) new standard rate will be due on premiums treated by the legislation as received on or after 1st October 2016, except where insurers operate a special accounting scheme. From 1st February 2017, the new standard rate applies to all premiums, regardless of when the contract is entered into.

Currently the IPT standard rate is 9.5%. The measure will increase the rate of IPT paid on premiums, which are taxed at the standard rate of IPT by 0.5%, to 10%. This is in addition to the increase experienced in 2015 which saw IPT increase from 6.5% to 9.5%.

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

 
COVID-19Update 19th July 2021

Following the latest round of restriction easing, we can confirm that our offices remain closed to the public for the continued safety of our team. We will continue to facilitate contractor key collections.

Our teams have been exceptional throughout the pandemic, working tirelessly to ensure continuity of service to our clients, demonstrating a resilience and positive attitude under unprecedented circumstances and we are sure our clients recognise and appreciate their efforts.

Many of our team will continue to work from home for the foreseeable future as they have throughout the pandemic, however restrictions on meetings have been eased as long as our team are able to follow our COVID policies safely. Otherwise, it is very much business as usual.

We will continue to regularly review our policies in line with any national or local guidelines and professional advice.

In order to get through to your management team, please note the extension numbers below. 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 Ryan Fenton & Margaret Vernam use Ext. 556

For Natasha Haisaid & Virginia Contreras use Ext. 558

For Chloe Gallagher & Rafaela Ribeiro use Ext. 559

For Kim Head & Tim Richards use Ext. 504

For Linda Clarke & Rasa Mestre use Ext. 555

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/coronavirus

We would also like to take the opportunity to thank all of our clients for their continued support throughout the pandemic.