PARLIAMENTARY WRITTEN QUESTION
Health Insurance: Taxation (26 January 2016)
Question Asked
To ask Mr Chancellor of the Exchequer, if he will make it his policy not to impose a tax on insurance premiums on health cash plans; and if he will make a statement.
Asked by:
Gareth Thomas (Labour)
Asked by:
Gareth Thomas (Labour)
Answer
All insurance premiums, including health cash plans, are exempt from VAT.
Long term insurance products, including critical illness cover, life insurance and income protection insurance are exempt from IPT.
Insurance Premium Tax is currently paid by insurers on all general insurance premiums. This includes health cash plans and other forms of medical insurance.
Answered by:
Dame Harriett Baldwin (Conservative)
3 February 2016
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