Budget 2007 Introduction Personal Taxation Employee Taxation Investment Reliefs Capital Gains Tax Trusts National Insurance Contributions Tax Credits Inheritance Tax Business Tax Corporation Tax Value Added Tax Stamp Duty Insurance Premium Tax	Insurance Premium Tax Insurance premium tax (IPT) is charged on insurance premiums at 5% (general insurance) or 17.5% (travel insurance and warranties sold with cars and certain household goods). It is generally collected by the insurer as part of the premium. Some long-term insurance products are exempt from IPT, such as term life insurance, endowments and pensions.