{
  "url": "https://openlegislation.uk/finance-act-2017/section-17",
  "json_url": "https://openlegislation.uk/finance-act-2017/section-17.json",
  "legislation": "ukpga/2017/10",
  "legislation_title": "Finance Act 2017",
  "legislation_url": "https://openlegislation.uk/finance-act-2017",
  "path": "section/17",
  "kind": "section",
  "number": "17",
  "heading": "Insurance premium tax: standard rate",
  "text": "(1) In section 51(2)(b) of FA 1994 (standard rate of insurance premium tax), for “10 per cent” substitute “ 12 per cent ”.\n(2) Subject to subsection (3), the amendment made by subsection (1) has effect in relation to a premium falling to be regarded for the purposes of Part 3 of FA 1994 as received under a taxable insurance contract by an insurer on or after 1 June 2017.\n(3) That amendment does not have effect in relation to a premium falling within subsection (4), unless the premium falls to be regarded for the purposes of Part 3 of FA 1994 as received under a taxable insurance contract by an insurer on or after 1 June 2018.\n(4) A premium falls within this subsection if it is in respect of a risk for which the period of cover begins before 1 June 2017.\n(5) In the application of sections 66A and 66B of FA 1994 (anti-forestalling provision) in relation to the increase in insurance premium tax made by this section, the announcement relating to that increase is to be taken to have been made on 8 March 2017 (and “the change date” is to be taken to be 1 June 2017).\n(6) This section is to be read with section 66C of FA 1994 (premiums relating to more than one period of cover).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2017/10/section/17",
    "retrieved_at": "2026-10-28T17:00:32.518561+00:00",
    "licence": "OGL-UK-3.0",
    "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
    "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
  }
}