IPT up to £7.6bn in 24/25

£853m in January 2025

Cameron Roberts
clock • 1 min read

HMRC data has revealed that Insurance Premium Tax (IPT) receipts stood at £853 million in January 2025.

The updated January haul brings the total 10-month IPT figure up to £7.6 billion for 2024/25. The 10-month figure is up 16%compared to the total this time last year, which stood at £6.5bn.  The January number also represents almost double the figure received in January 2024, in which HMRC reported £439m in IPT receipts. Cara Spinks, head of life and health, Broadstone, said: "With NHS waiting lists remaining well above pre-pandemic levels, individuals and employers are leaning more and more on independent healthcare services in order to protect themselves and their businesses from the...

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