Submitted on Monday 19th December 2016
Published on Wednesday 21st December 2016
Current status: Closed
Closed: Tuesday 2nd May 2017
Signatures: 1,666
Exempt Charities from paying Insurance Premium Tax (IPT)
We believe the Government should be doing everything it can to support the vital work charities are doing, not imposing unnecessary costs on them. We call for charities to be exempted from Insurance Premium Tax (IPT).
The Government could introduce an exemption from, or reduction in, IPT for all UK Charities. A further rise in the rate of standard UK IPT was announced recently. From 1st June 2017 IPT charged on charities' insurance premiums will increase to 12%. This represents a 100% increase in an 18 month period. These increases have and will continue to negatively affect charities who have already suffered in the last few years from reduced income while seeing an increase in the demand for their services.
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