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Chancellor's tax hike set to hit bands

Forget the House of Lords stepping in — bands need to ensure they can afford the tax premium hike on their insurance premiums.

BBIS
 

It seems that the Chancellor of the Exchequer will be making things a little more expensive for brass bands following the introduction of a rise in Insurance Premium Tax.

Tax rise

In July, George Osborne announced a rise in the tax from 6% to 9.5%, with the hike applying not only to car, contents, buildings, phones and pets — but also musical instruments.

"It emphasises the point make that bands should be fully covered with all their insurance needs,"Karen Davis of Brass Bands Insurance Services told 4BR.

"For over 40 years we have provided the brass band community with the widest insurance cover at the lowest cost for bands and bandsmen both amateur and professional. Even with this increase in Insurance Premium Tax we are committed to continuing this tradition.

Our minimum premium will only go up by 50p and it will be just £13.00 for up to £1,000 of instrument cover. A £2,500 pound instrument for instance can still be insured for only £27.38 — a small increase of 88p for a year's cover."

Reminder

Karen also reminded bands that the news also gives bands the ideal opportunity to undertake a full review of their insurance requirements.

"Don't let the Chancellor's decision to increase the tax put you off fully meeting your insurance needs.

Now is the ideal chance to do a comprehensive review — from mutes to microwave ovens that are your band's property. Don't leave it until it's too late."

It emphasises the point make that bands should be fully covered with all their insurance needsKaren Davis of Brass Bands Insurance Services

Further information

For advice and further information about your band's insurance needs contact: Karen or Lisa on 020 8759 0825 and they can give you the outstanding service and advice BBIS have become known for in the last four decades.

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