Commentary

E1.456B Life insurance gains—certificates issued to HMRC

Personal and employment tax

E1.456B Life insurance gains—certificates issued to HMRC

E1.456B Life insurance gains—certificates issued to HMRC

Where a chargeable event occurs, the insurer has to deliver to an HMRC officer before the end of the relevant three month period a certificate containing the information given to the policyholder (see E1.456A) together with the name and address of the appropriate policyholder, where1:

  1.  

    •     the event is an assignment for money or money's worth of the whole of the rights in the policy or contract, or

  2.  

    •     the amount of the gain exceeds half of the basic rate limit for the tax year concerned

If the insurer has to deliver a

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