At SMP Healthcare Ltd we’re committed to keeping our clients new and existing up to date about changes that affect Private Medical Insurance policies. That’s why we want to let you know about a change to Insurance Premium Tax. What does it mean to those who either a hold a policy, or are considering putting a policy in place. First things first…what is Insurance Premium Tax? *Insurance Premium Tax (IPT) is a tax on general insurance premiums and therefore applies to Private Medical Insurance policies. There are two rates of IPT: – A current standard rate of 10% – A…