‘Disaster’ warning on insurance tax

The independent healthcare sector has been warned it faces disaster if the Government chooses to increase insurance premium tax (IPT) on private medical insurance to help pay for Covid-19 debts.

Stuart Scullion, chairman of the Association of Medical Insurers and Intermediaries, told its virtual annual general meeting that although there was no increase in the tax in the Spring Budget State­ment, Chancellor Rishi Sunak did announce he would be asking  the Treasury to conduct a further review into the levy.