Commentary

E1.456C Life insurance gains—certificates: personal portfolio bonds

Personal and employment tax

E1.456C Life insurance gains—certificates: personal portfolio bonds

E1.456C Life insurance gains—certificates: personal portfolio bonds

Certificates issued to a policyholder

When a chargeable event occurs in respect of a PPB, an insurer is required to deliver a certificate to the appropriate policyholder, whether or not he considers that a gain arises1. The certificate has to be issued within three months after the end of the insurance period in which the event occurred2.

The certificate must contain the following information3:

  1.  

    •     any unique identification given to the policy or contract

  2.  

    •     the nature of the chargeable event and the date on which it is treated as having happened

  3.  

    •     the

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