‘Stealth tax’ costing families £223

Gallery: Countries where people pay the least tax (Lovemoney) The amount of revenue raised from IPT in the 2019/20 financial year is estimated to stand at £223 per UK household, the report said. Around half of what households spend on IPT are amounts passed on by businesses to consumers to cope with this steep tax on their products, the report said. Huw Evans, director general of the ABI said: “This new report clearly shows how regressive and unfair insurance premium tax is.

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