Commentary

E1.454A Meaning of personal portfolio bond

Personal and employment tax

E1.454A Meaning of personal portfolio bond

E1.454A Meaning of personal portfolio bond

A personal portfolio bond is a life insurance policy, a contract for a life annuity or a capital redemption policy under whose terms:

  1.  

    •     some or all of the benefits are determined by fluctuations in the value of property or an index of property or of income from property, and

  2.  

    •     some or all of the property (or index) may be selected by:

    1.  

      (i)     the policyholder

    2.  

      (ii)     a person connected with him

    3.  

      (iii)     a person acting for him

    4.  

      (iv)     a person acting for a connected person

    5.  

      (v)     any combination of (i)–(iv) above1

If there is

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