How badly will you be affected by the stealth tax on insurance?
Insurers have been in trouble over the past year due to rising car and home insurance prices, but the Treasury Department is making the pain worse, thanks to the insurance premium tax.
This sneaky tax now raises an astonishing £7.45 billion a year, but how much is it likely to cost you – and is there any chance of it being reduced?
In this episode of Lunch Money, Simon Lambert and Helen Crane from This is Money look at the tax incentive on insurance premiums.
Also on the show, Victoria Scholar, from Interactive Investor, explains how Marks & Spencer got the spark back and looks at whether M&S’s strong performance, which has sent its share prices soaring, can continue.
And finally, what is the good news coming out of the mortgage market after months of borrowers suffering from interest rate spikes?
You can also watch Lunch Money on the This is Money YouTube channel.
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