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Insurance

Eileen1

Eileen1 Posts: 8 Forumite

25 April 2017 at 5:23PM in Reclaim bank & credit card charges

Just looking at an old car insurance agreement and it says 'All premiums include Insurance Premium Tax where applicable'. Is this the same as PPI?

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Comments

dunstonh Posts: 119,967 Forumite

25 April 2017 at 5:40PM

Eileen1 wrote: »

Just looking at an old car insurance agreement and it says 'All premiums include Insurance Premium Tax where applicable'. Is this the same as PPI?

No. PPI is a type of insurance. Tax is tax.

I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.

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societys_child Posts: 7,110 Forumite

29 April 2017 at 1:45PM

It's a government tax.
HMRC explains:

https://www.gov.uk/government/publications/rates-and-allowances-insurance-premium-tax/insurance-premium-tax-rates

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