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IPT receipts rise by over a quarter in the past year

Rising insurance costs and surge in demand for healthcare insurance mid NHS crisis have both boosted IPT receipts

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IPT receipts for the 2022/23 financial year have reached a record £7.34bn, an uptick of 11% from 2021/22 when the tax take stood at £6.63bn, and a 18% increase compared to five years prior with £6.2bn collected in 2018/19.

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