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Written question asked by Fiona Bruce (Conservative) on Wednesday, 11 January 2017, in the House of Commons. It was due for an answer on Friday, 13 January 2017. It was answered by Jane Ellison (Conservative) on Wednesday, 18 January 2017 on behalf of the Treasury.

Insurance Premium Tax: Charities

Question

To ask Mr Chancellor of the Exchequer, what discussions he has with charities on the potential effect of the increase in insurance premium tax announced in the Autumn Statement 2016.

Answer

Insurance Premium Tax (IPT) is a tax on all general insurance paid by insurers, and it is therefore up to insurers to decide whether to pass on any tax paid.

Charities are a vital part of our society and the Government continues to support them and their donors, including through tax reliefs worth over £5 billion in 2015-16. The Government has also made up to £42 million per annum available for the Listed Places of Worship Grant Scheme and at Budget 2016, the Government announced a further £20 million to the First World War Centenary Cathedrals Repairs Fund.

While all tax policy is kept under review, it would be challenging to implement an exemption for insurance purchased by any specific group.

Treasury Ministers and officials meet with a wide range of companies and organisations, including charities and their representative bodies, to discuss relevant issues.

Details of ministerial meetings with external organisations on departmental business are published on a quarterly basis and are available at: https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel

Secondary information

Type
Written question
Reference
59660
Session
2016-17
Grouped for answer
Yes
Subjects
Charities Insurance premium tax
Link
View this Written question on www.parliament.uk