A4.434 Annual payments made by other personsWhere a person other than an individual1 makes a qualifying annual payment, whether or not for commercial reasons2, that person must deduct from the payment a sum representing income tax.HMRC have said that they consider payments of 'trail commission' passed on to investors in collective investment schemes and other investment products, including life insurance policies, to be annual payments subject to income tax and they will expect payers to deduct basic rate tax at source and investors to include such payments in self-assessment returns for 2013/14 onwards. HMRC will not seek to collect
Where a person other than an individual1 makes a qualifying annual payment, whether or not for commercial reasons2, that person must deduct from the payment a sum representing income tax.
HMRC have said that they consider payments of 'trail commission' passed on to investors in collective investment schemes and other investment products, including life insurance policies, to be annual payments subject to income tax and they will expect payers to deduct basic rate tax at source and investors to include such payments in self-assessment returns for 2013/14 onwards. HMRC will not seek to collect
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