Gareth Thomas – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Gareth Thomas on 2016-01-26.

To ask Mr Chancellor of the Exchequer, if he will make it his policy not to impose a tax on insurance premiums on health cash plans; and if he will make a statement.

Harriett Baldwin

All insurance premiums, including health cash plans, are exempt from VAT.

Long term insurance products, including critical illness cover, life insurance and income protection insurance are exempt from IPT.

Insurance Premium Tax is currently paid by insurers on all general insurance premiums. This includes health cash plans and other forms of medical insurance.