Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of the cost of the standard rate of Insurance Premium Tax to (1) listed property homeowners, and (2) the homeowners of properties that are not listed; and what plans they have to (a) exempt, or (b) lower, the rate of Insurance Premium Tax on listed building insurance premiums.

Insurance Premium Tax (IPT) receipts are not broken down by type of insurance; therefore it is not possible to assess the IPT paid by owners of listed and non-listed properties. Insurance pricing is affected by a wide range of factors, and the taxes that insurers pay are just one part of this.

IPT is a broad-based tax which raises important revenue to fund essential public services. The rate of IPT has been unchanged since 2017. The Government keeps all taxes under review and the Chancellor makes decisions at Budgets in the context of the overall public finances.