From 1st October 2016 the rate of Insurance Premium Tax has increased to 10%. Policies incepted or renewed after that date will attract tax at the new rate.
On 1st November 2015 the rate increased from 6% to 9.5%
For those with policies due for renewal in October will see the rate increase in one hit from 6% to 10%
The Government announced this move in The Budget in the Spring. The increase is designed to help fund for more flood defences.
For more information, see the link below.