Insurance premium tax puts UK at 'disadvantage'

The cash plan provider said claims from Chancellor George Osborne's that the move brought UK firms into line with Europe were untrue. The standard rate of insurance premium tax - the tax paid each time an insurance policy is purchased in the UK - increased from 6% to 9.5% in November last year. Medicash highlighted that out of 29 EU countries, twelve have exempted healthcare from IPT whereas three do not have IPT at all. Only six have IPT on healthcare above 6%: Belgium (9.25%), France (9%), Greece (10%), Slovenia (6.5%), Slovakia (9.5%) and the UK (9.5%). Medicash chief executi...