Commentary

V18.141 Death, bankruptcy or incapacity of registered persons

Part V18 Insurance Premium Tax

V18.141 Death, bankruptcy or incapacity of registered persons

V18.141 Death, bankruptcy or incapacity of registered persons

If an insurer or taxable intermediary dies or becomes bankrupt or incapacitated HMRC may treat any other person who carries on the business as if they were the registered person1. Any such person must notify HMRC within 30 days of the fact and of the date of the death or bankruptcy or of the nature of the incapacity and the date on which it began2.

Where HMRC has treated a person as carrying on a registrable business it shall cease to treat him so if3;

  1.  

    •     the registration of the registrable person is

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