Commentary

E1.445 Life insurance gains—person chargeable

Personal and employment tax

E1.445 Life insurance gains—person chargeable

E1.445 Life insurance gains—person chargeable

The question of who is chargeable to tax under the life assurance gains rules on the occasion of a chargeable event (see E1.451) depends on whether the rights under the policy or contract are held immediately before that event by an individual (see E1.446), by personal representatives (see E1.447) or by UK resident trustees (see E1.448)1.

Where there has been a surrender or assignment of part of the rights or a share in the rights, regard is had to the holding of the part or share on the occasion

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