On 1 October 2018, UK HMRC published updated guidance on the Insurance Premium Tax, which is levied on general insurance premiums and includes a standard rate and a higher rate for certain types of insurance. The guidance is updated to reflect the increase of the standard rate from 10% to 12% effective 1 June 2017 and to explain the new implementation method for the transitional arrangements for the rate change. The higher rate (20%) is not changed.