Commentary

D7.614 Limitation of benefits to members—effect on qualification and exemption

Corporate tax
Corporate tax | Commentary

D7.614 Limitation of benefits to members—effect on qualification and exemption

Corporate tax | Commentary

D7.614 Limitation of benefits to members—effect on qualification and exemption

In addition to the limits imposed on a friendly society on the sums assured or premiums payable under individual policies forming part of its tax exempt life or endowment business (see D7.604, D7.605), there are also limits to the aggregate sums assured or premiums payable by an individual member under all his outstanding contracts with UK friendly societies registered branches or insurance companies1. A friendly society, registered branch or insurance company may require a person to make and sign a statutory declaration that the total sums assured or premiums payable

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial