Commentary

E1.456A Life insurance gains—certificates issued to a policyholder

Personal and employment tax

E1.456A Life insurance gains—certificates issued to a policyholder

E1.456A Life insurance gains—certificates issued to a policyholder

When a chargeable event occurs, the insurer is required to deliver a certificate to the appropriate policyholder, unless he is satisfied that no gain arises. The certificate has to be delivered before the end of the relevant three month period1.

The certificate must contain the following information2.

  1.  

    (1)     Any unique identification given to the policy or contract

  2.  

    (2)     The nature and date of the chargeable event; if the event is a part surrender or assignment, the date of the end of the tax year and the insurance year

  3.  

    (3)     If the event 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