11 March 2021
Insurtech UK calls for insurtech intermediaries to reclaim VAT on their costs
This is something that Insurtech UK has consistently raised with HM Treasury, but ahead of the Budget on Wednesday we feel it is important to take a public position on this issue, especially given the reports that Insurance Premium Tax (IPT) could be increased.
This is one of the biggest and perhaps the most unique barrier to growth facing insurtech businesses, and given the Government's recent commitment to support the promotion of innovation and technology within UK financial services, this would be a huge measure to support the UK insurtech sector.
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