• Our experienced team really understand your Motor Trade needs. Call 01709 881717 or click here to find out more.

    Our experienced team really understand your Motor Trade needs. Call 01709 881717 or click here to find out more.

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  • From single properties to property portfolios, we can tailor competitive quotes to suit your needs and property type.

    From single properties to property portfolios, we can tailor competitive quotes to suit your needs and property type.

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  • Do you run a tanning salon? We have a product specially for you. Click here to find out more.

    Do you run a tanning salon? We have a product specially for you. Click here to find out more.

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  • AS Insurance Services is proud to sponsor professional squash player Polly Clark.

    AS Insurance Services is proud to sponsor professional squash player Polly Clark.

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  • We provide specialist insurance for trades. Call 01709 881717 or click here to find out more.

    We provide specialist insurance for trades. Call 01709 881717 or click here to find out more.

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Insurance Premium Tax Increase from 1st June 2017

The new rate was announced by Chancellor of the Exchequer Phillip Hammond in his Autumn Statement.  On 1st June, the Insurance Premium Tax (IPT) has increased from 10% to 12%, meaning the tax has doubled in just 18 months. This increase will affect 27 million households, 17 million drivers and most businesses, potentially increasing their insurance premiums, according to the British Insurance Brokers’ Association (BIBA).

Various organisations have estimated the specific financial impact on certain types of cover. For example, the Automobile Association estimates average motor premiums could increase by £10 per year, whilst PricewaterhouseCoopers estimates they could rise by £25.

Insurance Premium Tax – when it will affect you

Policies arranged after 1st June

Unlike previous increases – of which there have already been two in recent times – there will be no concessionary period, meaning new policies and renewals arranged after the 1st June will automatically come with the higher 12% rate. The rate will also apply to any midterm adjustments, which may be pertinent to businesses which have seen a change in circumstances, such as an expansion or relocation.

Policies arranged before 1st June

It won’t apply, however, to policies arranged or renewed before the 1st June. Any mid-term adjustments or cancellations will also follow the same rate as that which the policy was arranged with – so 10% if it was purchased before 1st June.

 

If you’re unsure as to what level of Insurance Premium Tax will apply to your policy and how much this will amount to, speak to us at AS Insurance Services Limited on 01709 881717 and we’ll be happy to help. AS Insurance Services Limited have premier accounts with most branded UK insurers, so with competitive deals and some exclusive products, our experienced team of brokers can help get you great value for money with the right cover at the right price.

Hairdressers

Whether you are a salon owner, mobile hairdresser, rent-a-chair hair stylist or specialist barber, our experienced team of insurance professionals can build a bespoke policy to cover your needs.

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Hairdressers

Property Owners

From single properties to property portfolios, we can tailor competitive quotes to suit your needs and property type.

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Property Owners

Microbreweries

While microbreweries may all be small in size, they all differ when it comes to the types of insurance cover they require. Our friendly advisors will take a 360-degree view of your business to ensure you are fully protected.

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Microbreweries
" I have been dealing with AS Insurance for a number of years and have always found them to be very competitive, but more importantly, their service is excellent and nothing is too much trouble. I would have no hesitation in recommending them to anyone. " S. Ridge, Manager, Pontefract Squash Club