Commentary

E1.456D Life insurance gains—keeping of records

Personal and employment tax

E1.456D Life insurance gains—keeping of records

E1.456D Life insurance gains—keeping of records

A 'relevant policy' is one in respect of which an insurer is required to deliver a certificate or where he is satisfied that no certificate is required in respect of a chargeable event1.

The insurer has to keep sufficient records (including advertising material) relating to each relevant policy to enable HMRC to ascertain the terms of the policy and that all necessary certificates have been delivered and that they are correct. These are called 'relevant records'2. They have to be kept for three years after the termination of the policy; where a policy is substituted

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